Harbor Capital Advisors Inc. Raises Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Harbor Capital Advisors Inc. grew its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 24.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,084,629 shares of the company’s stock after acquiring an additional 209,734 shares during the period. Harbor Capital Advisors Inc.’s holdings in Elanco Animal Health were worth $13,135,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Elanco Animal Health by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock worth $115,623,000 after acquiring an additional 65,303 shares in the last quarter. Atom Investors LP raised its position in shares of Elanco Animal Health by 310.3% during the 3rd quarter. Atom Investors LP now owns 345,855 shares of the company’s stock valued at $5,081,000 after buying an additional 261,559 shares in the last quarter. Davidson Kempner Capital Management LP bought a new position in shares of Elanco Animal Health in the 2nd quarter valued at about $839,000. Wellington Management Group LLP lifted its holdings in shares of Elanco Animal Health by 19.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock valued at $58,875,000 after acquiring an additional 646,522 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Elanco Animal Health by 14.0% in the third quarter. Franklin Resources Inc. now owns 372,230 shares of the company’s stock worth $5,349,000 after acquiring an additional 45,795 shares in the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Elanco Animal Health Trading Down 2.5 %

Shares of NYSE ELAN traded down $0.29 during mid-day trading on Friday, reaching $11.26. The company had a trading volume of 2,625,834 shares, compared to its average volume of 4,289,860. Elanco Animal Health Incorporated has a 52 week low of $11.11 and a 52 week high of $18.80. The business’s 50-day moving average is $12.69 and its 200-day moving average is $13.54. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 1.96 and a beta of 1.41. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Equities analysts expect that Elanco Animal Health Incorporated will post 0.92 earnings per share for the current year.

Analysts Set New Price Targets

ELAN has been the topic of a number of recent research reports. UBS Group started coverage on Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 price objective on the stock. Leerink Partners began coverage on Elanco Animal Health in a report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price target on the stock. Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Stifel Nicolaus reduced their target price on shares of Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $17.00 to $15.00 in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.43.

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.