Davidson Investment Advisors Reduces Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Davidson Investment Advisors lowered its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 896,866 shares of the company’s stock after selling 72,520 shares during the period. Davidson Investment Advisors’ holdings in Elanco Animal Health were worth $10,861,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake 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 valued at $147,747,000 after buying an additional 4,361,799 shares during the last quarter. State Street Corp raised its holdings in Elanco Animal Health by 2.6% in the third quarter. State Street Corp now owns 9,912,693 shares of the company’s stock valued at $145,617,000 after acquiring an additional 255,084 shares in the last quarter. Geode Capital Management LLC raised its holdings in Elanco Animal Health by 0.8% in the third quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock valued at $115,623,000 after acquiring an additional 65,303 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Elanco Animal Health by 6.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,385,467 shares of the company’s stock valued at $93,803,000 after acquiring an additional 394,921 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Elanco Animal Health by 19.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock worth $58,875,000 after acquiring an additional 646,522 shares in the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ELAN. Barclays increased their price target 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. Morgan Stanley decreased 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 report on Wednesday, January 29th. Leerink Partnrs raised Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. Leerink Partners assumed coverage on shares of Elanco Animal Health in a report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price objective for the company. Finally, Stifel Nicolaus dropped 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 report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Elanco Animal Health presently has an average rating of “Hold” and an average target price of $16.29.

Elanco Animal Health Stock Performance

Shares of NYSE ELAN opened at $11.26 on Tuesday. Elanco Animal Health Incorporated has a 12-month low of $10.77 and a 12-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 company has a market cap of $5.57 billion, a PE ratio of 28.15, a P/E/G ratio of 2.69 and a beta of 1.42. The stock has a 50 day simple moving average of $11.90 and a 200-day simple moving average of $13.13.

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.