Picton Mahoney Asset Management Acquires 6,647 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Picton Mahoney Asset Management lifted its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 2.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 271,917 shares of the company’s stock after purchasing an additional 6,647 shares during the quarter. Picton Mahoney Asset Management’s holdings in Elanco Animal Health were worth $4,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in Elanco Animal Health in the 4th quarter valued at $37,000. Tower Research Capital LLC TRC boosted its stake in Elanco Animal Health by 169.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,212 shares of the company’s stock valued at $93,000 after purchasing an additional 3,906 shares during the period. Capstone Investment Advisors LLC bought a new stake in Elanco Animal Health in the 1st quarter valued at $167,000. HBK Sorce Advisory LLC bought a new stake in Elanco Animal Health in the 4th quarter valued at $169,000. Finally, Atomi Financial Group Inc. bought a new stake in Elanco Animal Health in the 1st quarter valued at $180,000. 97.48% of the stock is currently owned by institutional investors.

Insider Transactions at Elanco Animal Health

In other news, Director William F. Doyle bought 15,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was acquired at an average price of $16.98 per share, with a total value of $254,700.00. Following the acquisition, the director now directly 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 is available through this hyperlink. 0.57% of the stock is owned by insiders.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN traded down $0.15 during trading on Friday, reaching $12.72. 4,609,317 shares of the company traded hands, compared to its average volume of 4,791,840. The company’s 50 day moving average is $16.38 and its two-hundred day moving average is $15.62. The firm has a market capitalization of $6.29 billion, a PE ratio of -4.83, a PEG ratio of 1.27 and a beta of 1.42. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.95. Elanco Animal Health Incorporated has a 52 week low of $8.52 and a 52 week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the company posted $0.45 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ELAN. Barclays reduced their price target on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Piper Sandler reduced their price target on Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.57.

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.