Connor Clark & Lunn Investment Management Ltd. Invests $652,000 in Elanco Animal Health Incorporated (NYSE:ELAN)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 53,830 shares of the company’s stock, valued at approximately $652,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Elanco Animal Health in the third quarter valued at approximately $35,000. Jones Financial Companies Lllp lifted its holdings in Elanco Animal Health by 95.6% in the fourth quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company’s stock valued at $51,000 after acquiring an additional 2,059 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in Elanco Animal Health by 221.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,953 shares of the company’s stock valued at $60,000 after acquiring an additional 3,411 shares during the last quarter. Blue Trust Inc. lifted its holdings in Elanco Animal Health by 47.7% in the fourth quarter. Blue Trust Inc. now owns 5,862 shares of the company’s stock valued at $71,000 after acquiring an additional 1,894 shares during the last quarter. Finally, Spire Wealth Management lifted its holdings in Elanco Animal Health by 107.4% in the fourth quarter. Spire Wealth Management now owns 7,776 shares of the company’s stock valued at $94,000 after acquiring an additional 4,026 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on ELAN shares. Piper Sandler decreased their price objective on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. UBS Group decreased their price objective on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus decreased their price target on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Finally, Barclays decreased their price target on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Elanco Animal Health presently has an average rating of “Hold” and a consensus target price of $15.17.

Elanco Animal Health Stock Down 0.3 %

Elanco Animal Health stock opened at $10.55 on Friday. Elanco Animal Health Incorporated has a twelve month low of $10.03 and a twelve month high of $18.80. The stock’s fifty day simple moving average is $11.36 and its 200-day simple moving average is $12.61. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $5.22 billion, a P/E ratio of 26.38, a P/E/G ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company posted $0.08 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Elanco Animal Health

In other Elanco Animal Health news, Director Lawrence Erik Kurzius bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $10.20 per share, with a total value of $102,000.00. Following the completion of the acquisition, the director now directly owns 111,459 shares of the company’s stock, valued at $1,136,881.80. This represents a 9.86 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.57% of the company’s stock.

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.