Old West Investment Management LLC Purchases New Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Old West Investment Management LLC acquired a new stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 393,782 shares of the company's stock, valued at approximately $4,769,000. Elanco Animal Health accounts for about 1.9% of Old West Investment Management LLC's portfolio, making the stock its 19th largest holding. Old West Investment Management LLC owned about 0.08% of Elanco Animal Health as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Elanco Animal Health in the third quarter worth about $35,000. Jones Financial Companies Lllp increased its position in Elanco Animal Health by 95.6% during the fourth quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company's stock valued at $51,000 after acquiring an additional 2,059 shares during the last quarter. SRS Capital Advisors Inc. grew its stake in shares of Elanco Animal Health by 221.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 4,953 shares of the company's stock valued at $60,000 after buying an additional 3,411 shares during the last quarter. MRP Capital Investments LLC purchased a new stake in Elanco Animal Health in the fourth quarter worth $61,000. Finally, Blue Trust Inc. boosted its position in Elanco Animal Health by 47.7% in the 4th quarter. Blue Trust Inc. now owns 5,862 shares of the company's stock valued at $71,000 after buying an additional 1,894 shares during the period. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ELAN. UBS Group decreased their price objective 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. Barclays reduced their target price on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus dropped their price target 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 decreased 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, Morgan Stanley dropped their target price on shares of Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Elanco Animal Health presently has an average rating of "Hold" and an average target price of $15.17.

Elanco Animal Health Stock Performance

Shares of ELAN stock traded down $0.86 during trading hours on Thursday, hitting $8.52. The company's stock had a trading volume of 3,536,255 shares, compared to its average volume of 4,873,847. The stock has a market cap of $4.23 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44. Elanco Animal Health Incorporated has a 12-month low of $8.03 and a 12-month high of $18.80. The company has a 50 day moving average of $10.71 and a 200 day moving average of $12.10. 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 (NYSE:ELAN - Get Free Report) last announced 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). 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 analyst estimates of $1.01 billion. During the same period in the prior year, the business posted $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, sell-side analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insider Activity

In other Elanco Animal Health news, Director Lawrence Erik Kurzius acquired 10,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the transaction, the director now directly owns 101,459 shares of the company's stock, valued at $1,105,903.10. This represents a 10.93 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.57% of the company's stock.

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.