AM Squared Ltd Makes New Investment in Elanco Animal Health Incorporated (NYSE:ELAN)

AM Squared Ltd purchased a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,300 shares of the company’s stock, valued at approximately $34,000.

A number of other large investors also recently made changes to their positions in ELAN. Russell Investments Group Ltd. lifted its stake in shares of Elanco Animal Health by 32.8% during the 1st quarter. Russell Investments Group Ltd. now owns 46,571 shares of the company’s stock worth $758,000 after purchasing an additional 11,490 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Elanco Animal Health by 5.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 506,292 shares of the company’s stock worth $8,242,000 after buying an additional 24,966 shares during the period. Jupiter Asset Management Ltd. purchased a new position in shares of Elanco Animal Health in the 1st quarter worth $4,956,000. Linscomb Wealth Inc. raised its position in shares of Elanco Animal Health by 10.8% in the 1st quarter. Linscomb Wealth Inc. now owns 77,147 shares of the company’s stock worth $1,256,000 after buying an additional 7,516 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Elanco Animal Health by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock worth $360,425,000 after buying an additional 852,281 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Down 0.4 %

Shares of Elanco Animal Health stock opened at $13.98 on Friday. The business has a 50-day moving average of $13.82 and a 200-day moving average of $14.76. 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 company has a market capitalization of $6.91 billion, a PE ratio of 34.95, a P/E/G ratio of 1.46 and a beta of 1.41. Elanco Animal Health Incorporated has a 1-year low of $11.20 and a 1-year high of $18.80.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. As a group, equities analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael J. Harrington purchased 3,500 shares of Elanco Animal Health stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average price of $14.85 per share, with a total value of $51,975.00. Following the completion of the transaction, the director now owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. This trade represents a 4.51 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ELAN shares. Barclays increased their target price on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Morgan Stanley downgraded Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $17.00 to $15.00 in a report on Thursday, September 19th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.14.

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.