Redwood Investment Management LLC Buys Shares of 92,869 Elanco Animal Health Incorporated (NYSE:ELAN)

Redwood Investment Management LLC purchased a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 92,869 shares of the company’s stock, valued at approximately $1,512,000.

A number of other institutional investors have also made changes to their positions in ELAN. Jones Financial Companies Lllp bought a new position in shares of Elanco Animal Health in the fourth quarter worth about $37,000. Global Financial Private Client LLC bought a new stake in shares of Elanco Animal Health in the first quarter valued at approximately $72,000. Tower Research Capital LLC TRC increased its position in Elanco Animal Health by 169.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,212 shares of the company’s stock worth $93,000 after acquiring an additional 3,906 shares during the period. Capstone Investment Advisors LLC acquired a new position in Elanco Animal Health during the 1st quarter valued at $167,000. Finally, HBK Sorce Advisory LLC acquired a new stake in Elanco Animal Health in the 4th quarter worth $169,000. 97.48% of the stock is owned by institutional investors.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN traded up $0.14 on Wednesday, hitting $13.05. The stock had a trading volume of 4,670,570 shares, compared to its average volume of 4,796,948. The firm’s 50 day moving average price is $15.73 and its 200-day moving average price is $15.51. 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 twelve month low of $8.52 and a twelve month high of $18.80. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of -4.92, a price-to-earnings-growth ratio of 1.26 and a beta of 1.42.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.34 earnings per share 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 negative net margin of 29.83% and a positive return on equity of 5.98%. The company’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.45 earnings per share. On average, equities research analysts predict that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current year.

Insider Transactions at Elanco Animal Health

In related news, Director William F. Doyle acquired 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average price of $16.98 per share, for a total transaction of $254,700.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ELAN shares. Piper Sandler decreased their target price on Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. Barclays lowered their price objective on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. One research 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. Based on data from MarketBeat.com, Elanco Animal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.57.

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.