Private Management Group Inc. Acquires 914,808 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Private Management Group Inc. raised its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 63.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,357,142 shares of the company’s stock after purchasing an additional 914,808 shares during the period. Private Management Group Inc.’s holdings in Elanco Animal Health were worth $28,545,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ELAN. Renaissance Technologies LLC bought a new position in Elanco Animal Health during the 2nd quarter valued at approximately $354,000. AQR Capital Management LLC grew its stake in shares of Elanco Animal Health by 39.9% in the second quarter. AQR Capital Management LLC now owns 71,235 shares of the company’s stock worth $1,028,000 after acquiring an additional 20,318 shares during the last quarter. Creative Planning increased its holdings in shares of Elanco Animal Health by 7.9% during the second quarter. Creative Planning now owns 52,177 shares of the company’s stock valued at $753,000 after acquiring an additional 3,801 shares in the last quarter. Truist Financial Corp raised its position in shares of Elanco Animal Health by 47.7% in the 2nd quarter. Truist Financial Corp now owns 62,964 shares of the company’s stock worth $909,000 after purchasing an additional 20,341 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Elanco Animal Health in the 2nd quarter worth about $781,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ELAN has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Leerink Partners assumed coverage on shares of Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price target for the company. UBS Group started coverage on shares of Elanco Animal Health in a report on Monday, December 9th. They issued a “buy” rating and a $18.00 price objective for the company. Barclays increased their target price on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Elanco Animal Health has a consensus rating of “Hold” and an average target price of $16.29.

Elanco Animal Health Trading Up 4.5 %

NYSE:ELAN opened at $12.03 on Thursday. The company has a 50 day simple moving average of $12.10 and a two-hundred day simple moving average of $13.22. The company has a market cap of $5.94 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 2.71 and a beta of 1.42. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. Elanco Animal Health Incorporated has a 12 month low of $11.11 and a 12 month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. Elanco Animal Health’s revenue was down 3.6% compared to the same quarter last year. Research analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

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.