Elanco Animal Health Incorporated (NYSE:ELAN) Shares Purchased by Channing Capital Management LLC

Channing Capital Management LLC increased its holdings in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 5.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 731,769 shares of the company's stock after acquiring an additional 40,359 shares during the period. Channing Capital Management LLC owned approximately 0.15% of Elanco Animal Health worth $8,862,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Commerce Bank grew its position in Elanco Animal Health by 2.2% in the third quarter. Commerce Bank now owns 35,114 shares of the company's stock worth $516,000 after acquiring an additional 741 shares during the period. Arizona State Retirement System lifted its stake in Elanco Animal Health by 0.8% during the fourth quarter. Arizona State Retirement System now owns 143,462 shares of the company's stock worth $1,737,000 after purchasing an additional 1,166 shares in the last quarter. MTM Investment Management LLC lifted its stake in Elanco Animal Health by 9.3% during the fourth quarter. MTM Investment Management LLC now owns 14,168 shares of the company's stock worth $172,000 after purchasing an additional 1,200 shares in the last quarter. M&T Bank Corp lifted its stake in Elanco Animal Health by 5.9% during the third quarter. M&T Bank Corp now owns 26,407 shares of the company's stock worth $388,000 after purchasing an additional 1,464 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Elanco Animal Health by 89.9% during the third quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company's stock worth $50,000 after purchasing an additional 1,601 shares in the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other 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 transaction, the director now directly owns 111,459 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.57% of the company's stock.

Elanco Animal Health Stock Performance

Shares of ELAN stock traded up $0.16 during mid-day trading on Friday, hitting $10.47. 4,680,857 shares of the stock were exchanged, compared to its average volume of 4,663,851. The stock's fifty day simple moving average is $11.49 and its two-hundred day simple moving average is $12.80. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 2.50 and a beta of 1.44. Elanco Animal Health Incorporated has a 12-month low of $10.03 and a 12-month high of $18.80. 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 (NYSE:ELAN - Get Free Report) last released 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). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the business earned $0.08 EPS. The business's quarterly revenue was down 1.4% compared to the same quarter last year. On average, analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ELAN. Leerink Partners started coverage on Elanco Animal Health in a research note on Monday, December 2nd. They set a "market perform" rating and a $14.00 price target on the stock. 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 reduced their price objective on Elanco Animal Health from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Piper Sandler dropped their target price on Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Finally, Leerink Partnrs raised Elanco Animal Health to a "hold" rating in a report on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.17.

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.