Point72 Asia Singapore Pte. Ltd. Makes New Investment in Elanco Animal Health Incorporated (NYSE:ELAN)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Elanco Animal Health Incorporated (NYSE:ELAN) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 19,133 shares of the company’s stock, valued at approximately $281,000.

Other large investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Elanco Animal Health by 337.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock valued at $26,000 after purchasing an additional 1,361 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of Elanco Animal Health during the 3rd quarter worth approximately $29,000. nVerses Capital LLC bought a new stake in Elanco Animal Health in the 2nd quarter valued at $32,000. ORG Partners LLC acquired a new stake in Elanco Animal Health during the 2nd quarter valued at $31,000. Finally, AM Squared Ltd bought a new position in Elanco Animal Health during the third quarter worth $34,000. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Down 7.4 %

Shares of ELAN opened at $12.48 on Wednesday. Elanco Animal Health Incorporated has a one year low of $11.40 and a one year high of $18.80. The firm has a 50 day simple moving average of $13.55 and a two-hundred day simple moving average of $14.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The company has a market cap of $6.17 billion, a P/E ratio of 31.20, a P/E/G ratio of 1.41 and a beta of 1.41.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 earnings per share. Research analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stifel Nicolaus restated a “buy” rating and set a $20.00 target price on shares of Elanco Animal Health in a research note on Thursday, September 19th. Barclays raised their price objective on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Leerink Partners began coverage on Elanco Animal Health in a research report on Monday. They issued a “market perform” rating and a $14.00 target price on the stock. Morgan Stanley downgraded Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Finally, Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.75.

Elanco Animal Health Company Profile

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.