Algert Global LLC Boosts Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Algert Global LLC boosted its holdings in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 11.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 289,713 shares of the company's stock after acquiring an additional 28,955 shares during the period. Algert Global LLC owned 0.06% of Elanco Animal Health worth $3,508,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ELAN. Aristeia Capital L.L.C. boosted its stake in shares of Elanco Animal Health by 79.5% in the fourth quarter. Aristeia Capital L.L.C. now owns 42,684 shares of the company's stock valued at $517,000 after purchasing an additional 18,903 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in Elanco Animal Health in the 4th quarter valued at approximately $803,000. Freestone Grove Partners LP purchased a new position in Elanco Animal Health in the 4th quarter valued at approximately $20,396,000. Comerica Bank grew its stake in shares of Elanco Animal Health by 357.9% in the fourth quarter. Comerica Bank now owns 33,926 shares of the company's stock worth $411,000 after acquiring an additional 26,517 shares in the last quarter. Finally, Perbak Capital Partners LLP purchased a new stake in shares of Elanco Animal Health during the fourth quarter worth $2,691,000. Institutional investors and hedge funds own 97.48% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ELAN. Piper Sandler lowered their target price on Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Stifel Nicolaus boosted their price objective on Elanco Animal Health from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday. UBS Group reduced their target price on shares of Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Barclays lowered their price target on shares of Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, Morgan Stanley reduced their price objective on shares of Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $15.00.

Insider Transactions at Elanco Animal Health

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

Elanco Animal Health Stock Down 2.1 %

ELAN stock traded down $0.26 during midday trading on Friday, reaching $12.02. 8,518,434 shares of the company were exchanged, compared to its average volume of 4,981,741. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 2.50 and a beta of 1.49. 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 1-year low of $8.02 and a 1-year high of $18.80. The stock's 50-day simple moving average is $9.89 and its 200 day simple moving average is $11.43.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Elanco Animal Health's revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

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.