872,123 Shares in Elanco Animal Health Incorporated (NYSE:ELAN) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 872,123 shares of the company's stock, valued at approximately $10,561,000. Raymond James Financial Inc. owned 0.18% of Elanco Animal Health at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ELAN. Arizona State Retirement System lifted its holdings in Elanco Animal Health by 0.8% in the fourth quarter. Arizona State Retirement System now owns 143,462 shares of the company's stock valued at $1,737,000 after acquiring an additional 1,166 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Elanco Animal Health during the 4th quarter valued at about $405,000. Atria Investments Inc lifted its stake in shares of Elanco Animal Health by 3.8% in the 4th quarter. Atria Investments Inc now owns 58,782 shares of the company's stock worth $712,000 after purchasing an additional 2,169 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Elanco Animal Health by 11.0% in the fourth quarter. Victory Capital Management Inc. now owns 113,630 shares of the company's stock worth $1,376,000 after buying an additional 11,216 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Elanco Animal Health by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,687,610 shares of the company's stock valued at $56,767,000 after buying an additional 162,994 shares during the last quarter. 97.48% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ELAN. Morgan Stanley dropped 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 research note on Wednesday, February 26th. Leerink Partnrs upgraded Elanco Animal Health to a "hold" rating in a research report on Monday, December 2nd. Barclays lowered their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Stifel Nicolaus cut their target price on Elanco Animal Health from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Finally, UBS Group reduced their price objective on shares of Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Four equities 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, the stock has a consensus rating of "Hold" and a consensus price target of $15.17.

Insider Activity

In related news, Director Lawrence Erik Kurzius bought 10,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the acquisition, the director now owns 101,459 shares in the company, valued at $1,105,903.10. This trade represents a 10.93 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.57% of the company's stock.

Elanco Animal Health Price Performance

NYSE:ELAN traded up $0.16 during trading hours on Monday, reaching $10.69. The stock had a trading volume of 3,637,264 shares, compared to its average volume of 4,672,513. 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 market capitalization of $5.29 billion, a PE ratio of 26.74, a PEG ratio of 2.50 and a beta of 1.44. Elanco Animal Health Incorporated has a 52 week low of $10.03 and a 52 week high of $18.80. The company has a 50 day moving average price of $11.36 and a two-hundred day moving average price of $12.57.

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 business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm posted $0.08 EPS. The company's revenue for the quarter was down 1.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

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.