Teacher Retirement System of Texas Decreases Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Teacher Retirement System of Texas lowered its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 29.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,272 shares of the company’s stock after selling 30,470 shares during the period. Teacher Retirement System of Texas’ holdings in Elanco Animal Health were worth $759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ELAN. Hillsdale Investment Management Inc. raised its position in shares of Elanco Animal Health by 2.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company’s stock worth $524,000 after purchasing an additional 900 shares during the last quarter. Freedom Investment Management Inc. lifted its stake in Elanco Animal Health by 9.1% in the 4th quarter. Freedom Investment Management Inc. now owns 20,746 shares of the company’s stock valued at $251,000 after buying an additional 1,725 shares in the last quarter. Versant Capital Management Inc lifted its stake in Elanco Animal Health by 65.9% in the 1st quarter. Versant Capital Management Inc now owns 4,382 shares of the company’s stock valued at $46,000 after buying an additional 1,740 shares in the last quarter. Mitchell & Pahl Private Wealth LLC lifted its stake in Elanco Animal Health by 4.0% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 45,489 shares of the company’s stock valued at $478,000 after buying an additional 1,761 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Elanco Animal Health by 92.2% in the 1st quarter. Parallel Advisors LLC now owns 3,860 shares of the company’s stock valued at $41,000 after buying an additional 1,852 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ELAN shares. Stifel Nicolaus raised their target price on shares of Elanco Animal Health from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. William Blair raised shares of Elanco Animal Health from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 26th. Finally, Wall Street Zen raised shares of Elanco Animal Health from a “hold” rating to a “buy” rating in a research note on Saturday, July 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.33.

Elanco Animal Health Stock Down 0.2%

ELAN stock opened at $14.88 on Tuesday. The company’s 50 day simple moving average is $13.45 and its 200-day simple moving average is $11.69. The firm has a market capitalization of $7.39 billion, a PE ratio of 20.10, a P/E/G ratio of 2.91 and a beta of 1.67. Elanco Animal Health Incorporated has a 12 month low of $8.02 and a 12 month high of $15.78. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.71 and a quick ratio of 1.46.

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 the consensus estimate 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 business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Elanco Animal Health Company Profile

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.