Comerica Bank Grows Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Comerica Bank raised its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 357.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 33,926 shares of the company's stock after purchasing an additional 26,517 shares during the period. Comerica Bank's holdings in Elanco Animal Health were worth $411,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Hillsdale Investment Management Inc. lifted its position in shares of Elanco Animal Health by 2.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company's stock valued at $524,000 after acquiring an additional 900 shares in the last quarter. Arizona State Retirement System grew its stake in 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 purchasing an additional 1,166 shares in the last quarter. MTM Investment Management LLC grew its stake in 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 purchasing an additional 1,200 shares in the last quarter. Freedom Investment Management Inc. lifted its holdings in Elanco Animal Health by 9.1% during the fourth quarter. Freedom Investment Management Inc. now owns 20,746 shares of the company's stock worth $251,000 after buying an additional 1,725 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Elanco Animal Health by 47.7% during the fourth quarter. Blue Trust Inc. now owns 5,862 shares of the company's stock worth $71,000 after buying an additional 1,894 shares during the period. Institutional investors own 97.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ELAN shares. Morgan Stanley decreased their price objective on 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. Stifel Nicolaus increased their price objective on Elanco Animal Health from $15.00 to $16.00 and gave the company a "buy" rating in a report on Monday. Piper Sandler decreased their price objective on Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. UBS Group decreased their price objective on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Finally, Barclays decreased their price objective on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $15.17.

Elanco Animal Health Stock Performance

Shares of NYSE ELAN traded up $0.32 during trading on Monday, reaching $13.24. 7,555,799 shares of the company traded hands, compared to its average volume of 5,052,520. The firm's fifty day simple moving average is $10.11 and its 200 day simple moving average is $11.43. The stock has a market cap of $6.58 billion, a P/E ratio of 33.10, a PEG ratio of 2.50 and a beta of 1.49. Elanco Animal Health Incorporated has a 12-month low of $8.02 and a 12-month high of $18.80. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.06. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period last year, the firm earned $0.34 EPS. The company's quarterly revenue was down 1.0% on a year-over-year basis. As a group, research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Lawrence Erik Kurzius acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $10.20 per share, for a total transaction of $102,000.00. Following the acquisition, the director now owns 111,459 shares in the company, valued at approximately $1,136,881.80. This represents a 9.86% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.89% of the company's stock.

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.