DNB Asset Management AS increased its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN – Get Rating) by 9.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 61,971 shares of the company’s stock after acquiring an additional 5,203 shares during the quarter. DNB Asset Management AS’s holdings in Elanco Animal Health were worth $1,617,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. CKW Financial Group purchased a new position in Elanco Animal Health during the fourth quarter worth about $30,000. Benjamin Edwards Inc. boosted its stake in Elanco Animal Health by 157.1% during the fourth quarter. Benjamin Edwards Inc. now owns 1,427 shares of the company’s stock worth $40,000 after buying an additional 872 shares during the period. Captrust Financial Advisors boosted its stake in Elanco Animal Health by 66.1% during the third quarter. Captrust Financial Advisors now owns 1,576 shares of the company’s stock worth $50,000 after buying an additional 627 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Elanco Animal Health during the fourth quarter worth about $46,000. Finally, Spire Wealth Management boosted its stake in Elanco Animal Health by 239.9% during the fourth quarter. Spire Wealth Management now owns 2,162 shares of the company’s stock worth $61,000 after buying an additional 1,526 shares during the period.
Several research firms have recently commented on ELAN. Morgan Stanley lowered their price objective on shares of Elanco Animal Health to $37.00 and set an “overweight” rating for the company in a research note on Tuesday, May 17th. The Goldman Sachs Group lowered their price objective on shares of Elanco Animal Health from $37.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, May 19th. Stifel Nicolaus lowered their price objective on shares of Elanco Animal Health from $30.00 to $22.00 in a research note on Friday. Finally, Barclays raised their price objective on shares of Elanco Animal Health from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, February 28th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.20.
In related news, Director R David Hoover acquired 10,000 shares of the business’s stock in a transaction on Friday, May 20th. The shares were bought at an average price of $23.33 per share, with a total value of $233,300.00. Following the completion of the acquisition, the director now owns 125,000 shares in the company, valued at $2,916,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.40% of the stock is currently owned by company insiders.
Shares of Elanco Animal Health stock opened at $20.61 on Friday. Elanco Animal Health Incorporated has a 52-week low of $19.56 and a 52-week high of $37.49. The company has a 50 day moving average of $23.39 and a 200 day moving average of $25.68. The company has a quick ratio of 1.41, a current ratio of 2.44 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $9.77 billion, a P/E ratio of -27.85, a P/E/G ratio of 0.97 and a beta of 0.74.
Elanco Animal Health (NYSE:ELAN – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Elanco Animal Health had a negative net margin of 7.65% and a positive return on equity of 6.61%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, research analysts anticipate that Elanco Animal Health Incorporated will post 1.17 earnings per share for the current fiscal year.
Elanco Animal Health Company Profile (Get Rating)
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.
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Source: defenseworld.net
