Douglas Lane & Associates LLC Increases Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Douglas Lane & Associates LLC raised its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,895,190 shares of the company's stock after purchasing an additional 205,241 shares during the period. Douglas Lane & Associates LLC owned approximately 0.78% of Elanco Animal Health worth $40,899,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ELAN. Hillsdale Investment Management Inc. boosted its stake in shares of Elanco Animal Health by 2.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company's stock worth $524,000 after buying an additional 900 shares during the last quarter. Arizona State Retirement System boosted its position 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 during the last quarter. MTM Investment Management LLC boosted its position 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 during the last quarter. Freedom Investment Management Inc. grew its stake in shares of Elanco Animal Health by 9.1% during the 4th quarter. Freedom Investment Management Inc. now owns 20,746 shares of the company's stock valued at $251,000 after purchasing an additional 1,725 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of Elanco Animal Health by 65.9% during the 1st quarter. Versant Capital Management Inc now owns 4,382 shares of the company's stock valued at $46,000 after purchasing an additional 1,740 shares during the last quarter. Institutional investors own 97.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Morgan Stanley dropped 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. Barclays cut 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 report on Wednesday, February 26th. UBS Group decreased their target price on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus lifted their target price on Elanco Animal Health from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Finally, Piper Sandler reduced their price target on Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.17.

Insider Buying and Selling

In other Elanco Animal Health news, Director Lawrence Erik Kurzius bought 10,000 shares of Elanco Animal Health stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $10.20 per share, for a total transaction of $102,000.00. Following the acquisition, the director now directly owns 111,459 shares in the company, valued at approximately $1,136,881.80. This represents a 9.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.89% of the stock is owned by company insiders.

Elanco Animal Health Price Performance

Elanco Animal Health stock traded up $0.01 during mid-day trading on Thursday, hitting $13.45. The stock had a trading volume of 1,403,655 shares, compared to its average volume of 5,109,036. Elanco Animal Health Incorporated has a one year low of $8.02 and a one year 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. The firm has a market capitalization of $6.68 billion, a P/E ratio of 33.63, a P/E/G ratio of 2.50 and a beta of 1.49. The firm's 50 day moving average is $10.77 and its 200 day moving average is $11.42.

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, beating the consensus estimate of $0.31 by $0.06. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.17 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. Elanco Animal Health's quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the company posted $0.34 earnings per share. On average, sell-side analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal 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.