Tang Capital Management LLC Boosts Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Tang Capital Management LLC lifted its position in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 33.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 800,000 shares of the company's stock after purchasing an additional 200,000 shares during the quarter. Tang Capital Management LLC owned about 0.16% of Elanco Animal Health worth $9,688,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC bought a new stake in shares of Elanco Animal Health in the 4th quarter valued at about $29,000. Jones Financial Companies Lllp raised 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 acquiring an additional 2,059 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in Elanco Animal Health by 221.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 4,953 shares of the company's stock valued at $60,000 after purchasing an additional 3,411 shares during the period. MRP Capital Investments LLC bought a new stake in shares of Elanco Animal Health in the 4th quarter worth approximately $61,000. Finally, Blue Trust Inc. raised its holdings in shares of Elanco Animal Health by 47.7% during the fourth quarter. Blue Trust Inc. now owns 5,862 shares of the company's stock valued at $71,000 after acquiring an additional 1,894 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors.

Elanco Animal Health Trading Down 0.7%

NYSE:ELAN traded down $0.10 during midday trading on Friday, hitting $12.58. 2,070,184 shares of the company traded hands, compared to its average volume of 5,048,287. The firm has a market capitalization of $6.25 billion, a P/E ratio of 31.39, a P/E/G 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 firm's fifty day moving average is $10.30 and its 200-day moving average is $11.46. 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 issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned $0.34 EPS. Elanco Animal Health's quarterly revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ELAN. UBS Group lowered their price objective on shares of Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Morgan Stanley decreased their price target on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Piper Sandler lowered their target price on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Stifel Nicolaus lifted their price target on shares of Elanco Animal Health from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Barclays lowered 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 research 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's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $15.17.

Insiders Place Their Bets

In related news, Director Lawrence Erik Kurzius bought 10,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $10.20 per share, for a total transaction of $102,000.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.89% of the company's stock.

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.