Cohen Capital Management Inc. Decreases Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Cohen Capital Management Inc. trimmed its position in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 38.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,815 shares of the company's stock after selling 43,846 shares during the period. Cohen Capital Management Inc.'s holdings in Elanco Animal Health were worth $833,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its position in shares of Elanco Animal Health by 2,129.2% in the 3rd quarter. Blue Trust Inc. now owns 3,968 shares of the company's stock valued at $57,000 after acquiring an additional 3,790 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Elanco Animal Health by 70.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 19,515 shares of the company's stock worth $287,000 after purchasing an additional 8,077 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Elanco Animal Health by 363.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company's stock valued at $22,748,000 after purchasing an additional 1,214,123 shares in the last quarter. Country Club Bank acquired a new position in Elanco Animal Health in the 3rd quarter valued at approximately $1,925,000. Finally, New World Advisors LLC raised its position in Elanco Animal Health by 28.0% during the 3rd quarter. New World Advisors LLC now owns 25,800 shares of the company's stock worth $379,000 after purchasing an additional 5,650 shares during the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Elanco Animal Health Price Performance

NYSE ELAN traded up $0.45 during trading hours on Wednesday, reaching $11.15. The company's stock had a trading volume of 6,067,942 shares, compared to its average volume of 4,941,666. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 2.50 and a beta of 1.42. The firm's 50-day moving average price is $11.75 and its 200-day moving average price is $13.07. Elanco Animal Health Incorporated has a 1 year low of $10.20 and a 1 year high of $18.80. 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 data on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $0.08 earnings per share. Elanco Animal Health's revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ELAN shares. UBS Group reduced their price objective on shares of Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday. Barclays cut their price target on shares of Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Wednesday. Leerink Partnrs upgraded shares of Elanco Animal Health to a "hold" rating in a research note on Monday, December 2nd. Morgan Stanley reduced their target price on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, Stifel Nicolaus decreased their price objective on Elanco Animal Health from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $15.57.

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.