5 Best Pet Stocks To Buy Now

3. Elanco Animal Health Incorporated (NYSE:ELAN)

Number of Hedge Fund Holders: 42

Elanco Animal Health Incorporated (NYSE:ELAN) was founded in 1954 and is headquartered in Greenfield, Indiana. It is an animal health company that develops, manufactures, and markets products for pets and farm animals, including parasiticides, vaccines, antibiotics, and nutritional health products. On November 8, Elanco Animal Health Incorporated (NYSE:ELAN) reported a Q3 non-GAAP EPS of $0.20, beating market estimates by $0.04. The revenue of $1.03 billion came in-line with Street consensus. It is one of the best pet stocks to consider. 

On November 14, Piper Sandler analyst David Westenberg maintained a Neutral rating on Elanco Animal Health Incorporated (NYSE:ELAN) but lowered the firm’s price target on the shares to $15 from $21. The analyst updated his model to reflect the Q3 earnings report.

According to Insider Monkey’s data, 42 hedge funds were bullish on Elanco Animal Health Incorporated (NYSE:ELAN) at the end of Q3 2022, compared to 32 funds in the prior quarter. Scott Ferguson’s Sachem Head Capital is the leading position holder in the company, with 28.6 million shares worth $355.3 million. 

Follow Elanco Animal Health Inc (NYSE:ELAN)