Sector Gamma AS Acquires Shares of 276,907 Elanco Animal Health Incorporated (NYSE:ELAN)

Sector Gamma AS acquired a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 276,907 shares of the company's stock, valued at approximately $3,353,000. Elanco Animal Health makes up about 1.2% of Sector Gamma AS's investment portfolio, making the stock its 25th biggest position. Sector Gamma AS owned 0.06% of Elanco Animal Health at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ELAN. Victory Capital Management Inc. increased its stake in Elanco Animal Health by 10.2% in the third quarter. Victory Capital Management Inc. now owns 102,414 shares of the company's stock valued at $1,504,000 after acquiring an additional 9,480 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Elanco Animal Health by 915.1% in the 3rd quarter. Quest Partners LLC now owns 16,201 shares of the company's stock worth $238,000 after purchasing an additional 14,605 shares in the last quarter. Pathstone Holdings LLC increased its position in shares of Elanco Animal Health by 0.7% during the 3rd quarter. Pathstone Holdings LLC now owns 546,793 shares of the company's stock valued at $8,032,000 after purchasing an additional 3,698 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Elanco Animal Health during the 3rd quarter valued at about $572,000. Finally, Commerce Bank lifted its position in Elanco Animal Health by 2.2% in the 3rd quarter. Commerce Bank now owns 35,114 shares of the company's stock worth $516,000 after buying an additional 741 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company's stock.

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Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group decreased their price target on shares of Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Piper Sandler lowered their price target on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Leerink Partnrs upgraded shares of Elanco Animal Health to a "hold" rating in a research report on Monday, December 2nd. Leerink Partners started coverage on Elanco Animal Health in a report on Monday, December 2nd. They issued a "market perform" rating and a $14.00 price objective on the stock. Finally, Morgan Stanley dropped their target price on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Elanco Animal Health presently has a consensus rating of "Hold" and a consensus target price of $15.17.

Elanco Animal Health Trading Down 1.7 %

Shares of Elanco Animal Health stock traded down $0.18 during trading on Tuesday, reaching $10.51. 4,215,315 shares of the stock were exchanged, compared to its average volume of 4,683,393. Elanco Animal Health Incorporated has a 1 year low of $10.03 and a 1 year high of $18.80. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The stock's fifty day moving average is $11.32 and its 200 day moving average is $12.51.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. Elanco Animal Health's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 earnings per share. As a group, equities research analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Insider Activity at Elanco Animal Health

In related news, Director Lawrence Erik Kurzius acquired 10,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $10.20 per share, for a total transaction of $102,000.00. Following the completion of the acquisition, the director now directly owns 111,459 shares of the company's stock, valued at approximately $1,136,881.80. This represents a 9.86 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by company insiders.

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.