Sanders Morris Harris LLC Buys Shares of 406,270 Elanco Animal Health Incorporated (NYSE:ELAN)

Sanders Morris Harris LLC bought a new stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 406,270 shares of the company’s stock, valued at approximately $6,614,000. Elanco Animal Health makes up approximately 1.3% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 13th largest position. Sanders Morris Harris LLC owned about 0.08% of Elanco Animal Health as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sapient Capital LLC purchased a new position in shares of Elanco Animal Health in the 4th quarter valued at $2,046,000. Phocas Financial Corp. purchased a new position in Elanco Animal Health during the 4th quarter worth $3,857,000. Bank of Nova Scotia purchased a new position in Elanco Animal Health during the 4th quarter worth $4,004,000. Ancora Advisors LLC purchased a new position in Elanco Animal Health during the 3rd quarter worth $37,189,000. Finally, Wolf Hill Capital Management LP purchased a new position in Elanco Animal Health during the 4th quarter worth $20,683,000. 97.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ELAN has been the topic of several research analyst reports. Barclays boosted their target price on Elanco Animal Health from $19.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. TheStreet upgraded Elanco Animal Health from a “d+” rating to a “c-” rating in a research note on Friday, February 23rd. The Goldman Sachs Group lifted their price target on Elanco Animal Health from $12.50 to $14.00 and gave the stock a “sell” rating in a research report on Tuesday, February 27th. Morgan Stanley lifted 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. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $19.00 price target (up previously from $18.00) on shares of Elanco Animal Health in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.29.

Insiders Place Their Bets

In related news, Director William F. Doyle acquired 15,000 shares of Elanco Animal Health stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average cost of $16.98 per share, for a total transaction of $254,700.00. Following the completion of the purchase, the director now owns 76,330 shares in the company, valued at $1,296,083.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is owned by insiders.

Elanco Animal Health Price Performance

NYSE ELAN traded down $0.15 during trading hours on Friday, reaching $18.05. The company’s stock had a trading volume of 3,896,886 shares, compared to its average volume of 3,344,120. Elanco Animal Health Incorporated has a 1-year low of $8.52 and a 1-year high of $18.80. The company’s 50-day moving average is $16.13 and its two-hundred day moving average is $15.57. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.29 and a quick ratio of 1.96. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of -6.81, a P/E/G ratio of 1.76 and a beta of 1.45.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.26 by $0.08. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. Elanco Animal Health’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 EPS. On average, equities analysts predict that Elanco Animal Health Incorporated will post 0.93 EPS for the current year.

Elanco Animal Health Company 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.