KLP Kapitalforvaltning AS Invests $1.23 Million in Elanco Animal Health Incorporated (NYSE:ELAN)

KLP Kapitalforvaltning AS bought a new position in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 101,700 shares of the company's stock, valued at approximately $1,232,000.

Several other institutional investors have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. grew its holdings in shares of Elanco Animal Health by 2.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company's stock valued at $524,000 after purchasing an additional 900 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Elanco Animal Health by 1.8% in the 4th quarter. American Century Companies Inc. now owns 128,264 shares of the company's stock worth $1,553,000 after buying an additional 2,280 shares during the last quarter. MRP Capital Investments LLC purchased a new stake in shares of Elanco Animal Health during the 4th quarter valued at about $61,000. Sector Gamma AS bought a new position in shares of Elanco Animal Health in the 4th quarter valued at about $3,353,000. Finally, Magnetar Financial LLC increased its stake in Elanco Animal Health by 13.7% during the fourth quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company's stock worth $145,711,000 after acquiring an additional 1,454,082 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company's stock.

Elanco Animal Health Stock Down 7.4 %

Shares of ELAN traded down $0.80 during midday trading on Thursday, reaching $9.97. 1,551,090 shares of the stock were exchanged, compared to its average volume of 4,504,433. The company has a market capitalization of $4.93 billion, a P/E ratio of 24.92, a PEG ratio of 2.50 and a beta of 1.44. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. Elanco Animal Health Incorporated has a 52 week low of $10.03 and a 52 week high of $18.80. The company's 50 day moving average is $11.14 and its two-hundred day moving average is $12.35.

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Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.14 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 business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the business posted $0.08 EPS. The company's revenue for the quarter was down 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Activity

In other news, Director Lawrence Erik Kurzius purchased 10,000 shares of the stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $10.90 per share, for a total transaction of $109,000.00. Following the acquisition, the director now owns 101,459 shares of the company's stock, valued at approximately $1,105,903.10. This represents a 10.93 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ELAN. UBS Group dropped their target price on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Stifel Nicolaus dropped their price objective on shares of Elanco Animal Health from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Piper Sandler lowered their target price on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. Morgan Stanley cut their price target on shares of Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Finally, Barclays reduced their price target on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.17.

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.