Hedeker Wealth LLC Raises Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Hedeker Wealth LLC increased its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 6.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 82,652 shares of the company’s stock after buying an additional 4,995 shares during the quarter. Hedeker Wealth LLC’s holdings in Elanco Animal Health were worth $1,346,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELAN. Jones Financial Companies Lllp purchased a new position in shares of Elanco Animal Health in the 4th quarter worth about $37,000. Tower Research Capital LLC TRC lifted its holdings 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 valued at $93,000 after purchasing an additional 3,906 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Elanco Animal Health during the third quarter valued at about $95,000. HBK Sorce Advisory LLC purchased a new stake in Elanco Animal Health during the fourth quarter valued at about $169,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Elanco Animal Health by 10.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,123 shares of the company’s stock valued at $181,000 after purchasing an additional 1,127 shares during the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ELAN has been the topic of several recent research reports. Barclays dropped their price objective on shares of Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Piper Sandler dropped their price objective on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.57.

Insider Buying and Selling at Elanco Animal Health

In other Elanco Animal Health news, Director William F. Doyle purchased 15,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were purchased at an average cost of $16.98 per share, with a total value of $254,700.00. Following the completion of the purchase, the director now owns 76,330 shares of the company’s stock, valued at approximately $1,296,083.40. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.57% of the company’s stock.

Elanco Animal Health Price Performance

Shares of ELAN stock traded up $0.31 during trading on Wednesday, hitting $14.32. The company had a trading volume of 176,540 shares, compared to its average volume of 4,713,702. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.95. The stock’s 50-day moving average is $16.46 and its two-hundred day moving average is $15.72. Elanco Animal Health Incorporated has a 52 week low of $8.52 and a 52 week high of $18.80.

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 for the quarter, compared to analysts’ expectations of $1.18 billion. Elanco Animal Health had a negative net margin of 29.83% and a positive return on equity of 5.98%. Elanco Animal Health’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 earnings per share. Research analysts predict that Elanco Animal Health Incorporated will post 0.93 EPS 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.