Freestone Grove Partners LP Makes New Investment in Elanco Animal Health Incorporated (NYSE:ELAN)

Freestone Grove Partners LP acquired a new stake in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,684,190 shares of the company's stock, valued at approximately $20,396,000. Freestone Grove Partners LP owned about 0.34% of Elanco Animal Health at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Hillsdale Investment Management Inc. raised its holdings in Elanco Animal Health by 2.1% during the fourth quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company's stock worth $524,000 after purchasing an additional 900 shares in the last quarter. Arizona State Retirement System grew its position in shares of Elanco Animal Health by 0.8% in the 4th quarter. Arizona State Retirement System now owns 143,462 shares of the company's stock valued at $1,737,000 after buying an additional 1,166 shares during the last quarter. MTM Investment Management LLC raised its stake in Elanco Animal Health by 9.3% during the 4th quarter. MTM Investment Management LLC now owns 14,168 shares of the company's stock worth $172,000 after acquiring an additional 1,200 shares in the last quarter. Freedom Investment Management Inc. lifted its position in Elanco Animal Health by 9.1% in the fourth quarter. Freedom Investment Management Inc. now owns 20,746 shares of the company's stock valued at $251,000 after acquiring an additional 1,725 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Elanco Animal Health by 47.7% in 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 and hedge funds.

Insider Activity

In related news, Director Lawrence Erik Kurzius acquired 10,000 shares of Elanco Animal Health stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased 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 directly owns 111,459 shares of the company's stock, valued at approximately $1,136,881.80. This trade represents a 9.86 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.89% of the company's stock.

Elanco Animal Health Stock Performance

ELAN traded down $0.12 during trading on Monday, hitting $9.63. The stock had a trading volume of 4,374,028 shares, compared to its average volume of 4,946,557. The firm has a market capitalization of $4.78 billion, a P/E ratio of 24.08, a PEG ratio of 2.50 and a beta of 1.49. 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 Incorporated has a twelve month low of $8.02 and a twelve month high of $18.80. The company's 50-day moving average price is $9.89 and its 200 day moving average price is $11.47.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company's revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 earnings per share. On average, equities research analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in 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. Morgan Stanley reduced their price objective 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. 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. Piper Sandler reduced their price target on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Finally, Stifel Nicolaus lowered their price objective on shares of Elanco Animal Health from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $14.67.

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.