Phocas Financial Corp. Sells 184,554 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Phocas Financial Corp. reduced its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 44.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 229,551 shares of the company's stock after selling 184,554 shares during the quarter. Phocas Financial Corp.'s holdings in Elanco Animal Health were worth $3,372,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new stake in Elanco Animal Health during the second quarter valued at approximately $55,599,000. Magnetar Financial LLC raised its holdings in shares of Elanco Animal Health by 61.2% during the second quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company's stock worth $120,298,000 after purchasing an additional 3,164,350 shares during the period. Assenagon Asset Management S.A. lifted its position 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 worth $22,748,000 after buying an additional 1,214,123 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Elanco Animal Health in the 2nd quarter valued at about $16,043,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Elanco Animal Health by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company's stock valued at $360,425,000 after buying an additional 852,281 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Elanco Animal Health

In related news, Director Michael J. Harrington acquired 3,500 shares of the firm's stock in a transaction on Thursday, August 22nd. The shares were purchased at an average price of $14.85 per share, with a total value of $51,975.00. Following the acquisition, the director now directly owns 81,094 shares in the company, valued at $1,204,245.90. The trade was a 4.51 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.57% of the company's stock.

Elanco Animal Health Stock Performance

Shares of NYSE:ELAN traded up $0.13 during trading on Wednesday, hitting $13.44. 2,104,738 shares of the stock were exchanged, compared to its average volume of 4,756,018. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 33.60, a price-to-earnings-growth ratio of 1.46 and a beta of 1.41. 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 company's fifty day simple moving average is $13.74 and its 200-day simple moving average is $14.76. Elanco Animal Health Incorporated has a 1-year low of $11.40 and a 1-year high of $18.80.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same period in the prior year, the firm posted $0.18 EPS. Elanco Animal Health's quarterly revenue was down 3.6% compared to the same quarter last year. Sell-side analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Analysts Set New Price Targets

ELAN has been the subject of several recent research reports. Barclays upped their target price on Elanco Animal Health from $19.00 to $20.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Morgan Stanley cut Elanco Animal Health from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $17.00 to $15.00 in a report on Thursday, September 19th. Finally, Stifel Nicolaus reiterated a "buy" rating and issued a $20.00 target price on shares of Elanco Animal Health in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $17.14.

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.