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Adage Capital Partners GP L.L.C. bought a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN – Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 500,000 shares of the company’s stock, valued at approximately $5,620,000. Adage Capital Partners GP L.L.C. owned 0.10% of Elanco Animal Health at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Profund Advisors LLC grew its position in shares of Elanco Animal Health by 10.3% in the 2nd quarter. Profund Advisors LLC now owns 66,643 shares of the company’s stock valued at $670,000 after purchasing an additional 6,224 shares during the period. Ancora Advisors LLC acquired a new position in shares of Elanco Animal Health in the 3rd quarter valued at approximately $37,189,000. UBS Group AG grew its position in shares of Elanco Animal Health by 78.2% in the 3rd quarter. UBS Group AG now owns 681,905 shares of the company’s stock valued at $7,665,000 after purchasing an additional 299,166 shares during the period. Raymond James & Associates grew its position in shares of Elanco Animal Health by 210.9% in the 3rd quarter. Raymond James & Associates now owns 1,015,294 shares of the company’s stock valued at $11,412,000 after purchasing an additional 688,779 shares during the period. Finally, Panagora Asset Management Inc. grew its position in shares of Elanco Animal Health by 836.1% in the 3rd quarter. Panagora Asset Management Inc. now owns 411,725 shares of the company’s stock valued at $4,628,000 after purchasing an additional 367,741 shares during the period. 95.29% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Elanco Animal Health
In other Elanco Animal Health news, Director R David Hoover purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $16.14 per share, for a total transaction of $322,800.00. Following the purchase, the director now owns 185,000 shares in the company, valued at $2,985,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.40% of the stock is owned by company insiders.
Elanco Animal Health Trading Up 1.0 %
Shares of Elanco Animal Health stock opened at $16.45 on Monday. Elanco Animal Health Incorporated has a 12-month low of $7.88 and a 12-month high of $16.88. The stock has a market cap of $8.11 billion, a P/E ratio of -6.58, a P/E/G ratio of 1.72 and a beta of 1.29. The company has a quick ratio of 1.35, a current ratio of 2.75 and a debt-to-equity ratio of 0.92. The business’s 50 day moving average is $15.55 and its 200-day moving average is $12.93.
Elanco Animal Health (NYSE:ELAN – Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Elanco Animal Health had a positive return on equity of 6.44% and a negative net margin of 27.87%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the company earned $0.19 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts predict 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 issued reports on ELAN shares. The Goldman Sachs Group boosted their price objective on Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a research report on Tuesday, February 27th. Piper Sandler upped their price target on Elanco Animal Health from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, November 13th. Morgan Stanley upped their price target on Elanco Animal Health from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Barclays upped their price target on Elanco Animal Health from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, Stifel Nicolaus raised Elanco Animal Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $13.00 to $20.00 in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Elanco Animal Health currently has a consensus rating of “Moderate Buy” and an average price target of $16.71.
View Our Latest Report on ELAN
About Elanco Animal Health
(Free Report)
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.
See Also
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