Perbak Capital Partners LLP Takes Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Perbak Capital Partners LLP purchased a new stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 222,240 shares of the company's stock, valued at approximately $2,691,000. Elanco Animal Health makes up 1.4% of Perbak Capital Partners LLP's investment portfolio, making the stock its 16th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in ELAN. Wilmington Savings Fund Society FSB acquired a new stake in shares of Elanco Animal Health during the third quarter worth approximately $35,000. Tidal Investments LLC increased its position in shares of Elanco Animal Health by 25.5% in the 3rd quarter. Tidal Investments LLC now owns 84,578 shares of the company's stock worth $1,242,000 after purchasing an additional 17,206 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Elanco Animal Health by 14.0% in the 3rd quarter. Franklin Resources Inc. now owns 372,230 shares of the company's stock worth $5,349,000 after purchasing an additional 45,795 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Elanco Animal Health by 76.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company's stock valued at $147,747,000 after purchasing an additional 4,361,799 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new position in shares of Elanco Animal Health during the fourth quarter worth about $209,000. Institutional investors and hedge funds own 97.48% of the company's stock.

Insider Buying and Selling

In other Elanco Animal Health news, Director Lawrence Erik Kurzius bought 10,000 shares of Elanco Animal Health stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $10.20 per share, for a total transaction of $102,000.00. Following the completion of the acquisition, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.89% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Piper Sandler cut their price objective on Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. UBS Group reduced their price objective on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Stifel Nicolaus lowered their target price on shares of Elanco Animal Health from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Morgan Stanley reduced their price target 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. Finally, Barclays lowered their price objective on shares of Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company 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 MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.67.

Elanco Animal Health Stock Performance

Shares of NYSE ELAN traded up $0.28 during midday trading on Friday, hitting $9.75. 3,509,607 shares of the company's stock were exchanged, compared to its average volume of 4,948,857. Elanco Animal Health Incorporated has a twelve month low of $8.02 and a twelve month high of $18.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The firm has a market cap of $4.84 billion, a P/E ratio of 24.36, a PEG ratio of 2.50 and a beta of 1.49. The stock's 50 day moving average price is $9.89 and its 200-day moving average price is $11.48.

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

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.