Zurcher Kantonalbank Zurich Cantonalbank Has $1.52 Million Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 4.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 102,242 shares of the company’s stock after buying an additional 4,689 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Elanco Animal Health were worth $1,523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sapient Capital LLC acquired a new position in Elanco Animal Health in the fourth quarter valued at about $2,046,000. Phocas Financial Corp. acquired a new position in Elanco Animal Health in the fourth quarter valued at about $3,857,000. Ancora Advisors LLC acquired a new position in Elanco Animal Health in the third quarter valued at about $37,189,000. UBS Group AG raised its stake in Elanco Animal Health by 78.2% in the third 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 in the last quarter. Finally, Raymond James & Associates raised its stake in Elanco Animal Health by 210.9% in the third 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 in the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Insider Activity at Elanco Animal Health

In related news, Director R David Hoover bought 20,000 shares of Elanco Animal Health stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $16.14 per share, for a total transaction of $322,800.00. Following the completion of the acquisition, the director now directly owns 185,000 shares of the company’s stock, valued at approximately $2,985,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ELAN. TheStreet raised Elanco Animal Health from a “d+” rating to a “c-” rating in a research note on Friday, February 23rd. The Goldman Sachs Group boosted their target price on Elanco Animal Health from $12.50 to $14.00 and gave the stock a “sell” rating in a research note on Tuesday, February 27th. Morgan Stanley boosted their target price on Elanco Animal Health from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Stifel Nicolaus raised Elanco Animal Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $13.00 to $20.00 in a research note on Friday, January 5th. Finally, Barclays boosted their target price on Elanco Animal Health from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.71.

Elanco Animal Health Stock Performance

NYSE:ELAN opened at $13.04 on Friday. The stock has a market cap of $6.44 billion, a P/E ratio of -5.22, a price-to-earnings-growth ratio of 1.41 and a beta of 1.29. The company has a current ratio of 2.75, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. The stock’s 50-day moving average is $15.49 and its 200-day moving average is $13.75. Elanco Animal Health Incorporated has a 1-year low of $7.88 and a 1-year high of $16.88.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Monday, February 26th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. Elanco Animal Health had a positive return on equity of 6.44% and a negative net margin of 27.87%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. Equities 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.