Private Management Group Inc. Increases Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

by · The Markets Daily

Private Management Group Inc. lifted its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN – Free Report) by 62.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,442,334 shares of the company’s stock after acquiring an additional 555,131 shares during the period. Private Management Group Inc. owned approximately 0.29% of Elanco Animal Health worth $21,188,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Elanco Animal Health by 337.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock worth $26,000 after purchasing an additional 1,361 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Elanco Animal Health during the third quarter valued at approximately $29,000. ORG Partners LLC bought a new position in Elanco Animal Health in the second quarter worth approximately $31,000. nVerses Capital LLC purchased a new position in shares of Elanco Animal Health during the 2nd quarter worth $32,000. Finally, Quarry LP bought a new stake in shares of Elanco Animal Health during the 2nd quarter valued at $40,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ELAN has been the topic of a number of recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 target price on shares of Elanco Animal Health in a report on Thursday, September 19th. Morgan Stanley cut Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $17.00 to $15.00 in a research report on Thursday, September 19th. Finally, Barclays lowered their price objective on Elanco Animal Health from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Elanco Animal Health has an average rating of “Hold” and a consensus target price of $17.00.

Read Our Latest Report on Elanco Animal Health

Elanco Animal Health Price Performance

ELAN traded down $0.04 on Friday, hitting $12.60. 3,804,471 shares of the company’s stock traded hands, compared to its average volume of 4,757,989. Elanco Animal Health Incorporated has a one year low of $8.75 and a one year high of $18.80. The company has a current ratio of 2.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.92. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of -4.94, a P/E/G ratio of 1.34 and a beta of 1.41. The company’s 50 day simple moving average is $14.11 and its 200-day simple moving average is $14.72.

Elanco Animal Health (NYSE:ELAN – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $0.18 EPS. Elanco Animal Health’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Insider Buying and Selling at Elanco Animal Health

In other news, Director Michael J. Harrington bought 3,500 shares of the stock in a transaction dated Thursday, August 22nd. The stock was purchased at an average cost of $14.85 per share, for a total transaction of $51,975.00. Following the transaction, the director now owns 81,094 shares of the company’s stock, valued at $1,204,245.90. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jeffrey N. Simmons acquired 100,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the transaction, the chief executive officer now directly owns 145,000 shares in the company, valued at approximately $1,886,450. This trade represents a 200.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Harrington acquired 3,500 shares of the stock in a transaction dated Thursday, August 22nd. The stock was bought at an average cost of $14.85 per share, with a total value of $51,975.00. Following the completion of the purchase, the director now directly owns 81,094 shares in the company, valued at approximately $1,204,245.90. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by company insiders.

Elanco Animal Health Profile

(Free Report)

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.

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