Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. trimmed its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 2.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 402,140 shares of the company’s stock after selling 9,585 shares during the period. Panagora Asset Management Inc.’s holdings in Elanco Animal Health were worth $5,992,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Sapient Capital LLC acquired a new position in shares of Elanco Animal Health in the fourth quarter valued at approximately $2,046,000. Phocas Financial Corp. acquired a new stake in Elanco Animal Health in the fourth quarter valued at $3,857,000. Ancora Advisors LLC purchased a new stake in Elanco Animal Health during the 3rd quarter worth about $37,189,000. UBS Group AG increased its holdings in shares of Elanco Animal Health by 78.2% in the 3rd quarter. UBS Group AG now owns 681,905 shares of the company’s stock valued at $7,665,000 after acquiring an additional 299,166 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Elanco Animal Health during the third quarter worth approximately $5,620,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Insider Activity

In other Elanco Animal Health news, Director R David Hoover purchased 20,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average cost of $16.14 per share, for a total transaction of $322,800.00. Following the acquisition, the director now owns 185,000 shares of the company’s stock, valued at approximately $2,985,900. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

ELAN has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Elanco Animal Health from $19.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. TheStreet upgraded Elanco Animal Health from a “d+” rating to a “c-” rating in a research report on Friday, February 23rd. The Goldman Sachs Group lifted their price objective on shares of Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a research note on Tuesday, February 27th. Morgan Stanley raised their target price on shares of Elanco Animal Health from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Finally, Piper Sandler reiterated a “neutral” rating and set a $19.00 price target (up from $18.00) on shares of Elanco Animal Health in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Elanco Animal Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.29.

Elanco Animal Health Stock Up 1.2 %

ELAN stock opened at $17.19 on Friday. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.95. Elanco Animal Health Incorporated has a 12 month low of $7.88 and a 12 month high of $17.43. The company’s 50 day simple moving average is $15.11 and its 200-day simple moving average is $14.40.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.93 EPS for the current 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.