Wealth Enhancement Advisory Services LLC Buys Shares of 10,572 Elanco Animal Health Incorporated (NYSE:ELAN)

Wealth Enhancement Advisory Services LLC bought a new stake in Elanco Animal Health Incorporated (NYSE:ELAN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,572 shares of the company’s stock, valued at approximately $111,000.

A number of other institutional investors have also recently added to or reduced their stakes in ELAN. CoreCap Advisors LLC acquired a new stake in shares of Elanco Animal Health in the fourth quarter valued at about $29,000. NBC Securities Inc. acquired a new stake in shares of Elanco Animal Health in the first quarter valued at about $40,000. Parallel Advisors LLC grew its position in shares of Elanco Animal Health by 92.2% in the first quarter. Parallel Advisors LLC now owns 3,860 shares of the company’s stock valued at $41,000 after purchasing an additional 1,852 shares during the last quarter. Versant Capital Management Inc raised its stake in Elanco Animal Health by 65.9% during the 1st quarter. Versant Capital Management Inc now owns 4,382 shares of the company’s stock valued at $46,000 after purchasing an additional 1,740 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Elanco Animal Health by 95.6% during the 4th quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company’s stock valued at $51,000 after purchasing an additional 2,059 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Elanco Animal Health Trading Up 1.9%

Shares of ELAN stock opened at $15.06 on Friday. Elanco Animal Health Incorporated has a 52-week low of $8.02 and a 52-week high of $15.78. The stock has a market cap of $7.48 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 2.89 and a beta of 1.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.71. The firm has a fifty day moving average of $13.35 and a 200-day moving average of $11.67.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Elanco Animal Health had a net margin of 8.43% and a return on equity of 7.54%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the company posted $0.34 EPS. The business’s revenue was down 1.0% on a year-over-year basis. On average, equities research analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. William Blair upgraded shares of Elanco Animal Health from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 26th. Wall Street Zen upgraded shares of Elanco Animal Health from a “hold” rating to a “buy” rating in a research note on Saturday, July 5th. Finally, Stifel Nicolaus upped their target price on shares of Elanco Animal Health from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.33.

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.