Xponance Inc. Raises Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Xponance Inc. increased its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 20.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 22,524 shares of the company’s stock after acquiring an additional 3,851 shares during the period. Xponance Inc.’s holdings in Elanco Animal Health were worth $273,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can increased its holdings in shares of Elanco Animal Health by 3.5% in the third quarter. Bank of Montreal Can now owns 416,336 shares of the company’s stock worth $5,962,000 after purchasing an additional 14,190 shares during the period. Qsemble Capital Management LP purchased a new position in Elanco Animal Health during the third quarter worth about $264,000. The Manufacturers Life Insurance Company increased its stake in Elanco Animal Health by 6.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,385,467 shares of the company’s stock worth $93,803,000 after acquiring an additional 394,921 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Elanco Animal Health by 2,453.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 260,325 shares of the company’s stock valued at $3,824,000 after acquiring an additional 250,129 shares in the last quarter. Finally, Freedom Investment Management Inc. boosted its position in shares of Elanco Animal Health by 26.2% during the 3rd quarter. Freedom Investment Management Inc. now owns 19,021 shares of the company’s stock valued at $279,000 after acquiring an additional 3,952 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elanco Animal Health

In other Elanco Animal Health news, Director Lawrence Erik Kurzius bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $10.20 per share, with a total value of $102,000.00. Following the completion of the purchase, the director now directly owns 111,459 shares of the company’s stock, valued at $1,136,881.80. This trade represents a 9.86 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by corporate insiders.

Elanco Animal Health Stock Up 2.4 %

ELAN opened at $10.81 on Friday. Elanco Animal Health Incorporated has a 12 month low of $10.03 and a 12 month high of $18.80. 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 business’s 50-day moving average price is $11.27 and its 200-day moving average price is $12.48. The company has a market cap of $5.34 billion, a P/E ratio of 27.01, a P/E/G ratio of 2.50 and a beta of 1.44.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ELAN shares. Piper Sandler lowered their target price on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. Barclays cut their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Leerink Partners assumed coverage on Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price target on the stock. Finally, UBS Group reduced their price objective on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.17.

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.