Van ECK Associates Corp Grows Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Van ECK Associates Corp raised its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 4.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 944,978 shares of the company’s stock after purchasing an additional 36,239 shares during the period. Van ECK Associates Corp’s holdings in Elanco Animal Health were worth $11,444,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in Elanco Animal Health by 76.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock valued at $147,747,000 after purchasing an additional 4,361,799 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Elanco Animal Health in the third quarter valued at about $19,708,000. Assenagon Asset Management S.A. boosted its stake in shares of Elanco Animal Health by 363.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock worth $22,748,000 after buying an additional 1,214,123 shares during the period. Private Management Group Inc. grew its holdings in shares of Elanco Animal Health by 63.4% during the fourth quarter. Private Management Group Inc. now owns 2,357,142 shares of the company’s stock worth $28,545,000 after buying an additional 914,808 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Elanco Animal Health in the 3rd quarter valued at about $9,969,000. 97.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ELAN has been the topic of several analyst reports. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Leerink Partners initiated coverage on shares of Elanco Animal Health in a research report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price objective on the stock. Stifel Nicolaus cut their price objective on shares of Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. UBS Group began coverage on shares of Elanco Animal Health in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 target price for the company. Finally, Morgan Stanley cut their price target on shares of Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.29.

Elanco Animal Health Trading Down 3.4 %

Shares of ELAN opened at $11.26 on Friday. Elanco Animal Health Incorporated has a twelve month low of $10.77 and a twelve month high of $18.80. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $5.57 billion, a P/E ratio of 28.15, a PEG ratio of 2.69 and a beta of 1.42. The firm’s 50-day moving average is $11.94 and its two-hundred day moving average is $13.15.

About Elanco Animal Health

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.