Ameriprise Financial Inc. Acquires 54,581 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Ameriprise Financial Inc. increased its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 127.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,373 shares of the company's stock after purchasing an additional 54,581 shares during the quarter. Ameriprise Financial Inc.'s holdings in Elanco Animal Health were worth $1,179,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp grew its stake in shares of Elanco Animal Health by 95.6% during the fourth quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company's stock valued at $51,000 after purchasing an additional 2,059 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in Elanco Animal Health by 221.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,953 shares of the company's stock valued at $60,000 after buying an additional 3,411 shares during the period. MRP Capital Investments LLC acquired a new position in Elanco Animal Health in the fourth quarter valued at approximately $61,000. Blue Trust Inc. lifted its holdings in Elanco Animal Health by 47.7% in the fourth quarter. Blue Trust Inc. now owns 5,862 shares of the company's stock valued at $71,000 after buying an additional 1,894 shares during the period. Finally, Harvest Fund Management Co. Ltd lifted its holdings in Elanco Animal Health by 3,267.6% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 6,129 shares of the company's stock valued at $74,000 after buying an additional 5,947 shares during the period. 97.48% of the stock is owned by institutional investors.

Elanco Animal Health Trading Down 0.0%

ELAN traded down $0.01 during mid-day trading on Thursday, hitting $13.44. The stock had a trading volume of 3,134,876 shares, compared to its average volume of 5,122,802. The stock's fifty day simple moving average is $10.83 and its 200-day simple moving average is $11.42. 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 firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 2.50 and a beta of 1.49. Elanco Animal Health Incorporated has a 1-year low of $8.02 and a 1-year high of $18.80.

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

Insider Transactions at Elanco Animal Health

In related news, Director Lawrence Erik Kurzius acquired 10,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $10.20 per share, with a total value of $102,000.00. Following the completion of the transaction, the director now directly owns 111,459 shares of the company's stock, valued at approximately $1,136,881.80. The trade was a 9.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ELAN shares. Stifel Nicolaus increased their price objective on shares of Elanco Animal Health from $15.00 to $16.00 and gave the company a "buy" rating in a report on Monday, May 19th. UBS Group cut their price objective 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. 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 report on Thursday, March 6th. Barclays cut their price objective on shares of Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Finally, Morgan Stanley cut 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 issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target 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.