Tidal Investments LLC Has $1.73 Million Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Tidal Investments LLC raised its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 68.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 142,766 shares of the company's stock after purchasing an additional 58,188 shares during the quarter. Tidal Investments LLC's holdings in Elanco Animal Health were worth $1,729,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. CoreCap Advisors LLC acquired a new position in shares of Elanco Animal Health in the fourth quarter worth $29,000. Jones Financial Companies Lllp increased its stake in shares of Elanco Animal Health by 95.6% in the fourth quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company's stock worth $51,000 after acquiring an additional 2,059 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in shares of Elanco Animal Health by 221.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,953 shares of the company's stock worth $60,000 after acquiring an additional 3,411 shares during the last quarter. MRP Capital Investments LLC acquired a new position in shares of Elanco Animal Health in the fourth quarter worth $61,000. Finally, Blue Trust Inc. increased its stake in shares of Elanco Animal Health by 47.7% in the fourth quarter. Blue Trust Inc. now owns 5,862 shares of the company's stock worth $71,000 after acquiring an additional 1,894 shares during the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Elanco Animal Health

In related news, Director Lawrence Erik Kurzius bought 10,000 shares of Elanco Animal Health stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $10.20 per share, for a total transaction of $102,000.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.89% of the stock is owned by corporate insiders.

Elanco Animal Health Stock Performance

Shares of NYSE:ELAN traded up $0.26 during midday trading on Thursday, hitting $13.66. The company's stock had a trading volume of 3,672,819 shares, compared to its average volume of 5,090,304. The stock has a market capitalization of $6.78 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 2.50 and a beta of 1.49. The stock's 50 day simple moving average is $10.49 and its 200 day simple moving average is $11.44. Elanco Animal Health Incorporated has a fifty-two week low of $8.02 and a fifty-two week high of $18.80. 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 (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, beating the consensus estimate 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 company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $0.34 earnings per share. The firm's revenue was down 1.0% compared to the same quarter last year. As a group, research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ELAN. Stifel Nicolaus increased their target price on shares of Elanco Animal Health from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. 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 report on Thursday, March 6th. UBS Group lowered 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 research report on Wednesday, February 26th. Morgan Stanley lowered their target price on shares of Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Finally, Barclays lowered their target price 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 issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $15.17.

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.