Cohen Capital Management Inc. Has $1.84 Million Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Cohen Capital Management Inc. reduced its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,771 shares of the company’s stock after selling 1,770 shares during the quarter. Cohen Capital Management Inc.’s holdings in Elanco Animal Health were worth $1,836,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Elanco Animal Health in the fourth quarter valued at $62,510,000. Dimensional Fund Advisors LP increased its position in Elanco Animal Health by 33.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,095,179 shares of the company’s stock worth $224,920,000 after purchasing an additional 3,816,514 shares during the period. Primecap Management Co. CA increased its position in Elanco Animal Health by 2.9% in the fourth quarter. Primecap Management Co. CA now owns 50,600,324 shares of the company’s stock worth $753,945,000 after purchasing an additional 1,431,665 shares during the period. Wolf Hill Capital Management LP acquired a new stake in Elanco Animal Health in the fourth quarter worth about $20,683,000. Finally, The Manufacturers Life Insurance Company increased its position in Elanco Animal Health by 12.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 5,625,707 shares of the company’s stock worth $83,823,000 after purchasing an additional 622,696 shares during the period. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ELAN. Barclays lowered their price objective on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Piper Sandler lowered their price objective on Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Elanco Animal Health presently has a consensus rating of “Moderate Buy” and an average target price of $17.57.

Elanco Animal Health Trading Up 2.9 %

ELAN traded up $0.39 during midday trading on Thursday, reaching $13.67. 4,263,448 shares of the company were exchanged, compared to its average volume of 4,768,424. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.96 and a current ratio of 3.29. Elanco Animal Health Incorporated has a one year low of $8.52 and a one year high of $18.80. The stock has a market capitalization of $6.76 billion, a P/E ratio of -5.16, a PEG ratio of 1.35 and a beta of 1.42. The stock’s 50-day simple moving average is $16.54 and its 200 day simple moving average is $15.68.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the business earned $0.45 earnings per share. The company’s revenue was down 4.1% compared to the same quarter last year. As a group, analysts forecast that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current fiscal year.

Insider Activity

In other Elanco Animal Health news, Director William F. Doyle acquired 15,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average price of $16.98 per share, for a total transaction of $254,700.00. Following the acquisition, the director now directly owns 76,330 shares of the company’s stock, valued at approximately $1,296,083.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by company insiders.

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.