Old West Investment Management LLC Acquires New Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Old West Investment Management LLC bought a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) during the 4th quarter, Holdings Channel reports. The institutional investor bought 393,782 shares of the company’s stock, valued at approximately $4,769,000. Elanco Animal Health makes up 1.9% of Old West Investment Management LLC’s holdings, making the stock its 19th largest position.

Other institutional investors have also recently bought and sold shares of the company. Magnetar Financial LLC raised its holdings in shares of Elanco Animal Health by 13.7% during the fourth quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company’s stock worth $145,711,000 after acquiring an additional 1,454,082 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Elanco Animal Health by 76.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock valued at $147,747,000 after purchasing an additional 4,361,799 shares during the period. State Street Corp raised its stake in shares of Elanco Animal Health by 2.6% in the 3rd quarter. State Street Corp now owns 9,912,693 shares of the company’s stock valued at $145,617,000 after purchasing an additional 255,084 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Elanco Animal Health by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 8,180,840 shares of the company’s stock valued at $99,102,000 after purchasing an additional 312,165 shares in the last quarter. Finally, Brandes Investment Partners LP boosted its position in shares of Elanco Animal Health by 66.9% during the fourth quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company’s stock worth $69,405,000 after buying an additional 2,296,691 shares during the period. Institutional investors own 97.48% of the company’s stock.

Insider Buying and Selling

In other news, Director Lawrence Erik Kurzius purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $10.90 per share, with a total value of $109,000.00. Following the acquisition, the director now owns 101,459 shares in the company, valued at approximately $1,105,903.10. This trade represents a 10.93 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is currently owned by insiders.

Elanco Animal Health Trading Down 5.7 %

Elanco Animal Health stock opened at $9.17 on Friday. The stock has a 50-day simple moving average of $11.04 and a 200 day simple moving average of $12.30. The stock has a market capitalization of $4.55 billion, a P/E ratio of 22.91, a PEG ratio of 2.50 and a beta of 1.44. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. Elanco Animal Health Incorporated has a 52 week low of $8.80 and a 52 week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm posted $0.08 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. Analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ELAN shares. Stifel Nicolaus dropped their target price on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Piper Sandler cut their price objective on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Morgan Stanley reduced their target price on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. UBS Group lowered their price target on shares of 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, Barclays reduced their price objective on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.17.

About Elanco Animal Health

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.