Elanco Animal Health Incorporated (NYSE:ELAN) Position Boosted by Private Management Group Inc.

Private Management Group Inc. grew its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 63.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,357,142 shares of the company's stock after acquiring an additional 914,808 shares during the quarter. Private Management Group Inc. owned about 0.48% of Elanco Animal Health worth $28,545,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. ORG Wealth Partners LLC purchased a new stake in Elanco Animal Health in the third quarter valued at approximately $29,000. AM Squared Ltd purchased a new stake in shares of Elanco Animal Health during the 3rd quarter valued at $34,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Elanco Animal Health during the 3rd quarter worth $35,000. Farther Finance Advisors LLC increased its holdings in shares of Elanco Animal Health by 158.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company's stock worth $49,000 after buying an additional 2,044 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Elanco Animal Health by 89.9% in the third quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company's stock valued at $50,000 after acquiring an additional 1,601 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on ELAN shares. Leerink Partnrs upgraded Elanco Animal Health to a "hold" rating in a research note on Monday, December 2nd. UBS Group began coverage on shares of Elanco Animal Health in a research report on Monday, December 9th. They set a "buy" rating and a $18.00 target price for the company. Morgan Stanley reduced their price target on shares of Elanco Animal Health from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Leerink Partners initiated coverage on shares of Elanco Animal Health in a research report on Monday, December 2nd. They issued a "market perform" rating and a $14.00 price objective for the company. Finally, Barclays raised their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $16.29.

Elanco Animal Health Stock Down 0.5 %

Shares of ELAN traded down $0.06 during mid-day trading on Thursday, reaching $11.97. 7,308,572 shares of the stock traded hands, compared to its average volume of 4,886,974. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 29.92, a P/E/G ratio of 2.71 and a beta of 1.42. The stock has a fifty day simple moving average of $12.10 and a 200 day simple moving average of $13.22. 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 Incorporated has a 12-month low of $11.11 and a 12-month high of $18.80.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business posted $0.18 EPS. The firm's 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.

About Elanco Animal Health

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.