Jupiter Asset Management Ltd. Raises Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Jupiter Asset Management Ltd. lifted its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 162.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,374,464 shares of the company’s stock after buying an additional 849,977 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Elanco Animal Health were worth $16,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Commerce Bank raised its holdings in shares of Elanco Animal Health by 2.2% in the third quarter. Commerce Bank now owns 35,114 shares of the company’s stock worth $516,000 after buying an additional 741 shares during the period. Arizona State Retirement System raised its holdings in shares of Elanco Animal Health by 0.8% in the fourth quarter. Arizona State Retirement System now owns 143,462 shares of the company’s stock worth $1,737,000 after buying an additional 1,166 shares during the period. MTM Investment Management LLC raised its holdings in shares of Elanco Animal Health by 9.3% in the fourth quarter. MTM Investment Management LLC now owns 14,168 shares of the company’s stock worth $172,000 after buying an additional 1,200 shares during the period. M&T Bank Corp grew its stake in Elanco Animal Health by 5.9% in the third quarter. M&T Bank Corp now owns 26,407 shares of the company’s stock worth $388,000 after purchasing an additional 1,464 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Elanco Animal Health by 89.9% in the third quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company’s stock worth $50,000 after purchasing an additional 1,601 shares in the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elanco Animal Health

In other Elanco Animal Health news, Director Lawrence Erik Kurzius purchased 10,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the purchase, the director now owns 101,459 shares of the company’s stock, valued at approximately $1,105,903.10. The trade was a 10.93 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ELAN shares. Leerink Partnrs raised Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Leerink Partners started coverage on Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price objective on the stock. Morgan Stanley dropped their price objective on Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. UBS Group dropped their price objective on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Piper Sandler dropped their price objective on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.17.

Elanco Animal Health Price Performance

ELAN opened at $10.40 on Thursday. The business’s 50-day moving average is $11.52 and its two-hundred day moving average is $12.81. Elanco Animal Health Incorporated has a 1 year low of $10.03 and a 1 year high of $18.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The firm has a market capitalization of $5.14 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm earned $0.08 EPS. Elanco Animal Health’s revenue for the quarter was down 1.4% on a year-over-year basis. Research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Elanco Animal Health 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.