Private Management Group Inc. Buys 257,779 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Key Points

• Private Management Group Inc. increased its holdings in Elanco Animal Health by 10.9% in the first quarter, now owning approximately 2.6 million shares valued at $27.5 million.
• Elanco Animal Health received several upgrades from analysts, with price objectives raised to $18.00, indicating strong growth expectations for the company.
• The company reported $1.19 billion in revenue for the last quarter, surpassing analyst estimates and showing a year-over-year revenue decline of 1.0%.

Private Management Group Inc. raised its holdings in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,614,921 shares of the company's stock after purchasing an additional 257,779 shares during the quarter. Private Management Group Inc. owned approximately 0.53% of Elanco Animal Health worth $27,457,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ELAN. Allworth Financial LP increased its stake in shares of Elanco Animal Health by 791.7% in the 1st quarter. Allworth Financial LP now owns 2,354 shares of the company's stock valued at $25,000 after buying an additional 2,090 shares during the period. CoreCap Advisors LLC acquired a new stake in shares of Elanco Animal Health in the 4th quarter valued at $29,000. Parallel Advisors LLC increased its stake in shares of Elanco Animal Health by 92.2% in the 1st quarter. Parallel Advisors LLC now owns 3,860 shares of the company's stock valued at $41,000 after buying an additional 1,852 shares during the period. NBC Securities Inc. acquired a new stake in shares of Elanco Animal Health in the 1st quarter valued at $40,000. Finally, Versant Capital Management Inc increased its stake in shares of Elanco Animal Health by 65.9% in the 1st quarter. Versant Capital Management Inc now owns 4,382 shares of the company's stock valued at $46,000 after buying an additional 1,740 shares during the period. Institutional investors own 97.48% of the company's stock.

Elanco Animal Health Trading Down 1.7%

NYSE:ELAN traded down $0.25 on Tuesday, reaching $14.34. The company's stock had a trading volume of 1,064,151 shares, compared to its average volume of 5,267,637. Elanco Animal Health Incorporated has a 1-year low of $8.02 and a 1-year high of $15.78. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.71. The firm has a market cap of $7.12 billion, a PE ratio of 19.37, a PEG ratio of 2.91 and a beta of 1.67. The business's 50-day moving average price is $14.04 and its two-hundred day moving average price is $11.92.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $1.17 billion. Elanco Animal Health had a return on equity of 7.54% and a net margin of 8.43%. Elanco Animal Health's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. Equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on ELAN. Stifel Nicolaus lifted their target price on Elanco Animal Health from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. UBS Group lifted their price objective on Elanco Animal Health from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen raised Elanco Animal Health from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Leerink Partnrs raised Elanco Animal Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 17th. Finally, William Blair raised Elanco Animal Health from a "market perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $16.17.

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.