Focus Partners Wealth Grows Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Focus Partners Wealth raised its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 721.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,804 shares of the company's stock after acquiring an additional 105,220 shares during the quarter. Focus Partners Wealth's holdings in Elanco Animal Health were worth $1,451,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CoreCap Advisors LLC acquired a new position in shares of Elanco Animal Health during the fourth quarter valued at approximately $29,000. Jones Financial Companies Lllp raised its holdings 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. raised its holdings in shares of Elanco Animal Health by 221.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 4,953 shares of the company's stock valued at $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 during the fourth quarter valued at 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 during the last quarter. Institutional investors and hedge funds own 97.48% of the company's stock.

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius purchased 10,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $10.20 per share, for a total transaction 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 represents a 9.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.89% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Barclays reduced their target price on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. UBS Group cut 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. Morgan Stanley cut their price target on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Stifel Nicolaus increased their price target on Elanco Animal Health from $15.00 to $16.00 and gave the company a "buy" rating in a report on Monday. Finally, Piper Sandler cut their price target on Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Elanco Animal Health presently has an average rating of "Hold" and an average price target of $15.17.

Elanco Animal Health Trading Down 0.1%

ELAN stock traded down $0.01 during midday trading on Friday, hitting $12.66. 4,743,380 shares of the company's stock were exchanged, compared to its average volume of 5,065,803. The business has a 50-day simple moving average of $10.34 and a two-hundred day simple moving average of $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. The stock has a market capitalization of $6.29 billion, a PE ratio of 31.66, a P/E/G ratio of 2.50 and a beta of 1.49. Elanco Animal Health Incorporated has a 1-year low of $8.02 and a 1-year high of $18.80.

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 (EPS) 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 6.78% and a net margin of 4.60%. The firm's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. On average, sell-side analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS 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.