Private Management Group Inc. Acquires 914,808 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Private Management Group Inc. increased its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 63.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,357,142 shares of the company’s stock after purchasing an additional 914,808 shares during the quarter. Private Management Group Inc. owned 0.48% of Elanco Animal Health worth $28,545,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Commerce Bank increased 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. Keene & Associates Inc. grew its position in Elanco Animal Health by 5.7% during the 3rd quarter. Keene & Associates Inc. now owns 22,945 shares of the company’s stock worth $337,000 after acquiring an additional 1,240 shares during the last quarter. M&T Bank Corp increased its stake in Elanco Animal Health by 5.9% in the 3rd 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 during the period. Venturi Wealth Management LLC lifted its position 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 valued at $50,000 after purchasing an additional 1,601 shares during the last quarter. Finally, Parkman Healthcare Partners LLC boosted its stake in shares of Elanco Animal Health by 1.4% during the third quarter. Parkman Healthcare Partners LLC now owns 127,812 shares of the company’s stock valued at $1,878,000 after purchasing an additional 1,770 shares during the period. 97.48% of the stock is owned by institutional investors.

Elanco Animal Health Price Performance

ELAN stock opened at $12.03 on Thursday. The firm has a 50-day moving average of $12.10 and a 200 day moving average of $13.22. 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 cap of $5.94 billion, a P/E ratio of 30.06, a PEG ratio of 2.71 and a beta of 1.42. Elanco Animal Health Incorporated has a 1 year low of $11.11 and a 1 year high of $18.80.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business posted $0.18 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, sell-side analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Analyst Ratings Changes

ELAN has been the topic of several analyst reports. Barclays lifted their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. Stifel Nicolaus dropped their target price on shares of Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Morgan Stanley cut their target price on Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Finally, Leerink Partners initiated coverage on Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Elanco Animal Health has an average rating of “Hold” and a consensus target price of $16.29.

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.