Cinctive Capital Management LP Purchases Shares of 51,788 Elanco Animal Health Incorporated (NYSE:ELAN)

Cinctive Capital Management LP purchased a new stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 51,788 shares of the company's stock, valued at approximately $627,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ELAN. Magnetar Financial LLC increased its stake in Elanco Animal Health by 13.7% during the 4th quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company's stock valued at $145,711,000 after buying an additional 1,454,082 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Elanco Animal Health by 76.6% in the third quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company's stock valued at $147,747,000 after buying an additional 4,361,799 shares during the period. State Street Corp boosted its stake in Elanco Animal Health by 2.6% during the third quarter. State Street Corp now owns 9,912,693 shares of the company's stock valued at $145,617,000 after buying an additional 255,084 shares in the last quarter. Geode Capital Management LLC grew its holdings in Elanco Animal Health by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 8,180,840 shares of the company's stock worth $99,102,000 after acquiring an additional 312,165 shares during the period. Finally, Brandes Investment Partners LP grew its holdings in Elanco Animal Health by 66.9% during the fourth quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company's stock worth $69,405,000 after acquiring an additional 2,296,691 shares during the period. 97.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ELAN shares. Barclays reduced 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. Morgan Stanley reduced their target price on shares of Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Stifel Nicolaus reduced their target price on Elanco Animal Health from $18.00 to $16.00 and set a "buy" rating for the company in a report on Friday, February 21st. UBS Group dropped their price target 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. Finally, Piper Sandler cut their price target on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $15.17.

Elanco Animal Health Stock Up 13.1 %

Shares of NYSE ELAN traded up $1.09 during mid-day trading on Wednesday, reaching $9.42. The company had a trading volume of 12,593,899 shares, compared to its average volume of 4,878,409. The stock has a fifty day moving average of $10.71 and a two-hundred day moving average of $12.10. Elanco Animal Health Incorporated has a 12-month low of $8.03 and a 12-month high of $18.80. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 2.50 and a beta of 1.44. 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 issued its 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 net margin of 4.60% and a return on equity of 6.78%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $0.08 EPS. The company's quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Insider Buying and Selling at Elanco Animal Health

In other Elanco Animal Health news, Director Lawrence Erik Kurzius bought 10,000 shares of Elanco Animal Health stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost 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 $1,136,881.80. The trade was a 9.86 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.57% of the company's stock.

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.