Cannon Global Investment Management LLC Buys Shares of 37,500 Elanco Animal Health Incorporated (NYSE:ELAN)

Cannon Global Investment Management LLC acquired a new stake in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 37,500 shares of the company's stock, valued at approximately $454,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Elanco Animal Health in the 3rd quarter valued at about $35,000. Jones Financial Companies Lllp grew its stake in shares of Elanco Animal Health by 95.6% in the 4th quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company's stock valued at $51,000 after purchasing an additional 2,059 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of Elanco Animal Health by 221.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,953 shares of the company's stock valued at $60,000 after purchasing an additional 3,411 shares during the period. MRP Capital Investments LLC acquired a new position in shares of Elanco Animal Health in the fourth quarter valued at approximately $61,000. Finally, Blue Trust Inc. raised its stake 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 worth $71,000 after purchasing an additional 1,894 shares during the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Elanco Animal Health news, Director Lawrence Erik Kurzius acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $10.20 per share, with a total value of $102,000.00. Following the purchase, the director now owns 111,459 shares in the company, valued at approximately $1,136,881.80. The trade was a 9.86 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.57% of the stock is owned by company insiders.

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Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, March 6th. Leerink Partners started coverage on shares of Elanco Animal Health in a report on Monday, December 2nd. They issued a "market perform" rating and a $14.00 target price on the stock. Leerink Partnrs upgraded shares of Elanco Animal Health to a "hold" rating in a research note on Monday, December 2nd. Morgan Stanley reduced their price objective on shares of Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Finally, Barclays dropped their target price on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $15.17.

Elanco Animal Health Price Performance

Shares of NYSE ELAN traded down $0.42 during midday trading on Friday, hitting $10.40. The company had a trading volume of 4,189,495 shares, compared to its average volume of 4,788,321. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44. Elanco Animal Health Incorporated has a twelve month low of $10.03 and a twelve month high of $18.80. The business has a 50-day simple moving average of $11.23 and a two-hundred day simple moving average of $12.45. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted 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 company 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 was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 earnings per share. Equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

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.