Mirae Asset Global Investments Co. Ltd. sells 1,207 shares of Elanco Animal Health Incorporated (NYSE: ELAN)
Mirae Asset Global Investments Co. Ltd. reduced its stake in Elanco Animal Health Incorporated (NYSE: ELAN – Get Rating) by 1.0% in the first quarter, according to its most recent Form 13F filed with the Securities & Exchange Commission. The company held 117,685 shares of the company after selling 1,207 shares during the quarter. The holdings of Mirae Asset Global Investments Co. Ltd. in Elanco Animal Health were worth $3,071,000 when it was last filed with the Securities & Exchange Commission.
Other major investors have also recently changed their positions in the company. Dodge & Cox increased its holdings of Elanco Animal Health shares by 510.5% in the fourth quarter. Dodge & Cox now owns 22,218,300 shares of the company worth $630,555,000 after purchasing an additional 18,579,176 shares in the last quarter. DE Shaw & Co. Inc. increased its equity stake in Elanco Animal Health by 141.0% in the fourth quarter. DE Shaw & Co. Inc. now owns 3,909,411 shares of the company worth $110,949,000 after purchasing an additional 2,287,366 shares in the last quarter. Sound Shore Management Inc. CT increased its holdings of Elanco Animal Health shares by 46.5% in the first quarter. Sound Shore Management Inc. CT now owns 4,313,804 shares of the company worth $112,547,000 after purchasing an additional 1,369,914 shares last quarter. Bank of Montreal Can increased its holdings of Elanco Animal Health shares by 300.0% in the fourth quarter. Bank of Montreal Can now owns 1,670,325 shares of the company worth $47,981,000 after purchasing an additional 1,252,733 shares in the last quarter. Finally, Rockefeller Capital Management LP increased its equity stake in Elanco Animal Health by 42.3% in the fourth quarter. Rockefeller Capital Management LP now owns 3,784,198 shares of the company worth $107,394,000 after purchasing an additional 1,125,644 shares in the last quarter.
Analyst upgrades and downgrades
Several equity analysts weighed in on ELAN shares. Goldman Sachs Group downgraded shares of Elanco Animal Health from a “buy” rating to a “sell” rating and lowered its price target for the company from $32.00 to $19.00 in a report from the Thursday July 21. JPMorgan Chase & Co. downgraded shares of Elanco Animal Health from an ‘overweight’ rating to a ‘neutral’ rating and lowered its price target for the company from $28.00 to $24.00 in a report Tuesday, August 16. Piper Sandler lowered its price target on shares of Elanco Animal Health from $22.00 to $21.00 and set a “neutral” rating on the stock in a Tuesday, August 16 report. Morgan Stanley downgraded shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered its price target for the company from $37.00 to $22.00 in a report Thursday, August 18. Finally, Stifel Nicolaus lowered his price target on shares of Elanco Animal Health from $30.00 to $22.00 and set a “hold” rating on the stock in a Friday, June 24 report. One investment analyst has given the stock a sell rating and five have issued the company’s stock a hold rating. According to data from MarketBeat, Elanco Animal Health currently has a consensus rating of “Hold” and an average price target of $23.33.
Elanco Animal Health Price Performance
ELAN stock opened at $16.13 on Thursday. Elanco Animal Health Incorporated has a one year minimum of $16.05 and a one year maximum of $35.00. The company’s fifty-day moving average price is $19.73 and its 200-day moving average price is $23.37. The company has a debt ratio of 0.84, a quick ratio of 1.47 and a current ratio of 2.47. The company has a market capitalization of $7.65 billion, a PE ratio of -46.09, a growth price-earnings ratio of 1.66 and a beta of 0.79.
Elanco Animal Health (NYSE:ELAN – Get Rating) last released its results on Monday, August 8. The company reported EPS of $0.36 for the quarter, beating the consensus estimate of $0.25 by $0.11. Elanco Animal Health recorded a negative net margin of 3.77% and a positive return on equity of 7.40%. The company posted revenue of $1.18 billion for the quarter, versus a consensus estimate of $1.18 billion. In the same quarter a year earlier, the company earned earnings per share of $0.28. The company’s quarterly revenue decreased 8.0% compared to the same quarter last year. On average, stock analysts expect Elanco Animal Health Incorporated to post EPS of 1.09 for the current fiscal year.
Elanco Animal Health Profile
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Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures and markets pet and farm animal products. It offers pet disease prevention products, such as parasiticides and vaccines that protect animals against worms, fleas and ticks under the Seresto, Advantage, Advantix and Advocate brand names; companion animal health therapies for pain, osteoarthritis, ear infections, cardiovascular and dermatological indications in dogs and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides and other products for 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.
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