Parkman Healthcare Partners LLC Buys 1,770 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Parkman Healthcare Partners LLC lifted its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 1.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 127,812 shares of the company’s stock after acquiring an additional 1,770 shares during the period. Parkman Healthcare Partners LLC’s holdings in Elanco Animal Health were worth $1,878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its position in shares of Elanco Animal Health by 337.7% during 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 last quarter. ORG Wealth Partners LLC purchased a new stake in Elanco Animal Health in the third quarter worth approximately $29,000. ORG Partners LLC bought a new position in Elanco Animal Health during the second quarter valued at approximately $31,000. nVerses Capital LLC purchased a new position in shares of Elanco Animal Health during the second quarter worth approximately $32,000. Finally, AM Squared Ltd bought a new stake in shares of Elanco Animal Health in the 3rd quarter worth approximately $34,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Elanco Animal Health Stock Down 7.4 %

Shares of Elanco Animal Health stock opened at $12.48 on Wednesday. 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 12-month low of $11.40 and a 12-month high of $18.80. The company has a market cap of $6.17 billion, a P/E ratio of 31.20, a PEG ratio of 1.41 and a beta of 1.41. The company’s fifty day simple moving average is $13.52 and its two-hundred day simple moving average is $14.55.

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

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.