Boothbay Fund Management LLC Buys 203,467 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Boothbay Fund Management LLC raised its holdings in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 11.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,055,567 shares of the company's stock after purchasing an additional 203,467 shares during the period. Elanco Animal Health accounts for about 0.6% of Boothbay Fund Management LLC's holdings, making the stock its 16th biggest position. Boothbay Fund Management LLC owned 0.42% of Elanco Animal Health worth $24,893,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Nebula Research & Development LLC increased its stake in shares of Elanco Animal Health by 11.2% in the fourth quarter. Nebula Research & Development LLC now owns 162,027 shares of the company's stock worth $1,962,000 after purchasing an additional 16,382 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Elanco Animal Health by 148.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,741,308 shares of the company's stock worth $21,087,000 after purchasing an additional 1,041,308 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Elanco Animal Health in the fourth quarter worth about $654,000. Stifel Financial Corp increased its stake in shares of Elanco Animal Health by 103.6% in the fourth quarter. Stifel Financial Corp now owns 228,277 shares of the company's stock worth $2,764,000 after purchasing an additional 116,175 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Elanco Animal Health by 508.2% in the fourth quarter. First Trust Advisors LP now owns 133,038 shares of the company's stock worth $1,611,000 after purchasing an additional 111,163 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ELAN shares. Morgan Stanley cut 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. Stifel Nicolaus cut their price objective on shares of Elanco Animal Health from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, April 14th. UBS Group cut 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, February 26th. Piper Sandler cut their price objective on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Finally, Barclays cut 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 issued a buy rating to the company. According to MarketBeat.com, Elanco Animal Health presently has an average rating of "Hold" and a consensus target price of $14.67.

Elanco Animal Health Price Performance

Elanco Animal Health stock traded up $0.25 during mid-day trading on Tuesday, hitting $9.76. 6,441,241 shares of the company traded hands, compared to its average volume of 4,943,512. Elanco Animal Health Incorporated has a one year low of $8.02 and a one year high of $18.80. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth 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. The stock has a fifty day moving average price of $10.00 and a 200-day moving average price of $11.58.

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 for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business's revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 earnings per share. On average, equities analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius acquired 10,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $10.20 per share, with a total value of $102,000.00. Following the completion of 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is currently owned by insiders.

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.