Tidal Investments LLC Increases Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Tidal Investments LLC boosted its holdings in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 68.8% in the 4th quarter, according to the company in its most recent filing with the Securities and 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hedges Asset Management LLC grew its holdings in shares of Elanco Animal Health by 15.7% during the fourth quarter. Hedges Asset Management LLC now owns 110,500 shares of the company's stock valued at $1,338,000 after buying an additional 15,000 shares during the last quarter. Blue Trust Inc. boosted its stake in Elanco Animal Health by 66.7% during the 4th quarter. Blue Trust Inc. now owns 6,615 shares of the company's stock valued at $80,000 after purchasing an additional 2,647 shares during the last quarter. KBC Group NV increased its holdings in Elanco Animal Health by 264.9% during the 4th quarter. KBC Group NV now owns 323,502 shares of the company's stock worth $3,918,000 after purchasing an additional 234,840 shares in the last quarter. Institute for Wealth Management LLC. raised its stake in shares of Elanco Animal Health by 11.5% in the fourth quarter. Institute for Wealth Management LLC. now owns 35,516 shares of the company's stock worth $430,000 after purchasing an additional 3,656 shares during the last quarter. Finally, Spire Wealth Management lifted its holdings in shares of Elanco Animal Health by 107.4% in the fourth quarter. Spire Wealth Management now owns 7,776 shares of the company's stock valued at $94,000 after purchasing an additional 4,026 shares in the last quarter. Institutional investors own 97.48% of the company's stock.

Elanco Animal Health Stock Performance

NYSE ELAN traded up $0.54 during trading hours on Tuesday, reaching $13.20. 7,537,579 shares of the company were exchanged, compared to its average volume of 5,083,784. The stock has a market capitalization of $6.56 billion, a P/E ratio of 33.00, a P/E/G ratio of 2.50 and a beta of 1.49. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. Elanco Animal Health Incorporated has a 1 year low of $8.02 and a 1 year high of $18.80. The business's 50 day simple moving average is $10.38 and its 200-day simple moving average is $11.41.

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 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 analyst estimates of $1.17 billion. During the same quarter last year, the business posted $0.34 EPS. Elanco Animal Health's quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Transactions at Elanco Animal Health

In other Elanco Animal Health news, Director Lawrence Erik Kurzius purchased 10,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were 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 in the company, valued at approximately $1,136,881.80. This trade represents a 9.86% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ELAN has been the subject of several recent research reports. UBS Group decreased their price target on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a report 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 for the company in a report on Thursday, March 6th. Barclays dropped their price target 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. Stifel Nicolaus upped their price objective 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. Finally, Morgan Stanley dropped 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.