Elanco Animal Health Incorporated (NYSE:ELAN) Shares Acquired by Channing Capital Management LLC

Channing Capital Management LLC increased its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 2.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 558,221 shares of the company’s stock after purchasing an additional 15,606 shares during the period. Channing Capital Management LLC’s holdings in Elanco Animal Health were worth $8,317,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in Elanco Animal Health during the third quarter valued at approximately $95,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Elanco Animal Health in the 3rd quarter valued at approximately $129,000. Innovis Asset Management LLC acquired a new stake in shares of Elanco Animal Health during the 3rd quarter valued at approximately $144,000. Ieq Capital LLC lifted its stake in Elanco Animal Health by 10.8% during the third quarter. Ieq Capital LLC now owns 13,464 shares of the company’s stock worth $151,000 after purchasing an additional 1,311 shares during the last quarter. Finally, HBK Sorce Advisory LLC acquired a new position in Elanco Animal Health in the fourth quarter worth $169,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Elanco Animal Health news, Director R David Hoover purchased 20,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were bought at an average cost of $16.14 per share, with a total value of $322,800.00. Following the completion of the acquisition, the director now owns 185,000 shares of the company’s stock, valued at $2,985,900. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ELAN. The Goldman Sachs Group increased their target price on shares of Elanco Animal Health from $12.50 to $14.00 and gave the stock a “sell” rating in a report on Tuesday, February 27th. Barclays raised their target price on shares of Elanco Animal Health from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Morgan Stanley upped their target price on Elanco Animal Health from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Finally, TheStreet upgraded Elanco Animal Health from a “d+” rating to a “c-” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.71.

Elanco Animal Health Stock Performance

Elanco Animal Health stock traded up $0.06 during midday trading on Friday, reaching $13.53. 3,719,972 shares of the stock traded hands, compared to its average volume of 4,351,298. Elanco Animal Health Incorporated has a fifty-two week low of $7.88 and a fifty-two week high of $16.88. The company has a current ratio of 2.75, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of -5.41, a PEG ratio of 1.42 and a beta of 1.34. The firm has a fifty day moving average price of $15.08 and a two-hundred day moving average price of $13.96.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Monday, February 26th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Elanco Animal Health had a negative net margin of 27.87% and a positive return on equity of 6.44%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the firm posted $0.19 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share 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.