Picton Mahoney Asset Management Buys Shares of 265,270 Elanco Animal Health Incorporated (NYSE:ELAN)

Picton Mahoney Asset Management bought a new stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 265,270 shares of the company's stock, valued at approximately $3,952,000. Picton Mahoney Asset Management owned about 0.05% of Elanco Animal Health at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Primecap Management Co. CA raised its stake in shares of Elanco Animal Health by 0.4% during the third quarter. Primecap Management Co. CA now owns 49,168,659 shares of the company's stock worth $552,656,000 after acquiring an additional 172,205 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Elanco Animal Health by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 49,001,441 shares of the company's stock worth $550,776,000 after buying an additional 362,152 shares during the period. Black Creek Investment Management Inc. grew its position in shares of Elanco Animal Health by 12.8% in the 3rd quarter. Black Creek Investment Management Inc. now owns 15,523,457 shares of the company's stock worth $174,484,000 after buying an additional 1,759,556 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Elanco Animal Health by 7.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,003,011 shares of the company's stock worth $56,234,000 after buying an additional 354,524 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Elanco Animal Health by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,732,872 shares of the company's stock worth $70,520,000 after buying an additional 21,692 shares during the period. 97.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ELAN has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on shares of Elanco Animal Health from $12.50 to $14.00 and gave the stock a "sell" rating in a research report on Tuesday, February 27th. Morgan Stanley increased their price objective on shares of Elanco Animal Health from $16.00 to $17.00 and gave the company an "overweight" rating in a research report on Tuesday, February 27th. TheStreet raised shares of Elanco Animal Health from a "d+" rating to a "c-" rating in a research report on Friday, February 23rd. Finally, Barclays increased their price objective on shares of Elanco Animal Health from $18.00 to $19.00 and gave the company an "overweight" rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Elanco Animal Health presently has an average rating of "Moderate Buy" and an average target price of $16.71.

Elanco Animal Health Stock Performance

Shares of NYSE:ELAN traded up $3.36 during trading on Wednesday, hitting $16.88. The company's stock had a trading volume of 19,728,918 shares, compared to its average volume of 4,553,548. The company has a 50-day moving average of $14.96 and a 200-day moving average of $14.02. Elanco Animal Health Incorporated has a 12 month low of $7.88 and a 12 month high of $17.23. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.75 and a quick ratio of 1.35. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of -6.76, a P/E/G ratio of 1.42 and a beta of 1.34.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). Elanco Animal Health had a positive return on equity of 6.44% and a negative net margin of 27.87%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the company earned $0.19 EPS. Elanco Animal Health's revenue for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director R David Hoover bought 20,000 shares of the firm's stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $16.14 per share, for a total transaction of $322,800.00. Following the purchase, the director now owns 185,000 shares in the company, valued at $2,985,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by company insiders.

Elanco Animal Health 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.

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