Hedeker Wealth LLC Has $1.62 Million Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Hedeker Wealth LLC grew its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,776 shares of the company’s stock after purchasing an additional 4,512 shares during the quarter. Hedeker Wealth LLC’s holdings in Elanco Animal Health were worth $1,620,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ELAN. JPMorgan Chase & Co. increased its position in shares of Elanco Animal Health by 76.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock worth $147,747,000 after purchasing an additional 4,361,799 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Elanco Animal Health during the 3rd quarter worth approximately $19,708,000. Assenagon Asset Management S.A. boosted its stake in shares of Elanco Animal Health by 363.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock worth $22,748,000 after acquiring an additional 1,214,123 shares during the period. Private Management Group Inc. boosted its stake in shares of Elanco Animal Health by 63.4% during the 4th quarter. Private Management Group Inc. now owns 2,357,142 shares of the company’s stock worth $28,545,000 after acquiring an additional 914,808 shares during the period. Finally, Point72 DIFC Ltd bought a new position in shares of Elanco Animal Health during the 3rd quarter worth approximately $9,969,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

Elanco Animal Health Stock Performance

Shares of Elanco Animal Health stock opened at $11.97 on Friday. The company has a 50 day moving average of $12.08 and a 200-day moving average of $13.21. The company has a market cap of $5.92 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 2.71 and a beta of 1.42. 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 Incorporated has a 1-year low of $11.11 and a 1-year high of $18.80.

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

Wall Street Analyst Weigh In

ELAN has been the subject of several research analyst reports. Stifel Nicolaus reduced their target price on Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley reduced their target price on Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Leerink Partners initiated coverage on Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price target for the company. Barclays boosted their price target on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, UBS Group initiated coverage on Elanco Animal Health in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.29.

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.