Bank of New York Mellon Corp Sells 47,745 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Bank of New York Mellon Corp lowered its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 2.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,959,884 shares of the company’s stock after selling 47,745 shares during the period. Bank of New York Mellon Corp owned about 0.39% of Elanco Animal Health worth $20,579,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. CoreCap Advisors LLC bought a new position in shares of Elanco Animal Health during the fourth quarter valued at approximately $29,000. NBC Securities Inc. acquired a new position in Elanco Animal Health in the 1st quarter valued at about $40,000. Parallel Advisors LLC grew its stake 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 buying an additional 1,852 shares in the last quarter. Versant Capital Management Inc raised its position 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 purchasing an additional 1,740 shares in the last quarter. Finally, Wealthquest Corp purchased a new stake in shares of Elanco Animal Health in the 1st quarter valued at approximately $56,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Leerink Partners upgraded shares of Elanco Animal Health from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a research note on Thursday. Stifel Nicolaus upped their price target on shares of Elanco Animal Health from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Wall Street Zen upgraded shares of Elanco Animal Health from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Finally, 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Elanco Animal Health currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Elanco Animal Health Stock Performance

NYSE:ELAN opened at $14.96 on Friday. The company has a market capitalization of $7.43 billion, a PE ratio of 20.21, a P/E/G ratio of 2.83 and a beta of 1.67. Elanco Animal Health Incorporated has a fifty-two week low of $8.02 and a fifty-two week high of $15.78. 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 company has a 50 day simple moving average of $13.76 and a two-hundred day simple moving average of $11.77.

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. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Elanco Animal Health had a return on equity of 7.54% and a net margin of 8.43%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 EPS. Research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Elanco Animal Health 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.