Redmile Group LLC Makes New $11.01 Million Investment in Elanco Animal Health Incorporated (NYSE:ELAN)

Redmile Group LLC purchased a new stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) in the 1st quarter, Holdings Channel.com reports. The fund purchased 676,039 shares of the company’s stock, valued at approximately $11,006,000.

A number of other hedge funds also recently modified their holdings of the business. Raymond James & Associates lifted its stake in shares of Elanco Animal Health by 19.6% in the fourth quarter. Raymond James & Associates now owns 1,214,532 shares of the company’s stock worth $18,097,000 after acquiring an additional 199,238 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of Elanco Animal Health by 23.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 254,689 shares of the company’s stock worth $3,795,000 after purchasing an additional 48,479 shares during the period. 180 Wealth Advisors LLC boosted its stake in shares of Elanco Animal Health by 23.6% in the 4th quarter. 180 Wealth Advisors LLC now owns 27,757 shares of the company’s stock valued at $406,000 after purchasing an additional 5,294 shares during the last quarter. HBK Sorce Advisory LLC acquired a new stake in shares of Elanco Animal Health during the fourth quarter worth $169,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Elanco Animal Health by 10.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,123 shares of the company’s stock worth $181,000 after buying an additional 1,127 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Insider Buying and Selling

In other Elanco Animal Health news, Director William F. Doyle acquired 15,000 shares of Elanco Animal Health stock in a transaction dated Tuesday, May 21st. The stock was purchased at an average cost of $16.98 per share, for a total transaction of $254,700.00. Following the completion of the acquisition, the director now directly owns 76,330 shares of the company’s stock, valued at $1,296,083.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.57% of the stock is owned by company insiders.

Elanco Animal Health Stock Up 0.2 %

Shares of NYSE ELAN traded up $0.02 during trading on Monday, hitting $12.92. 5,585,517 shares of the company traded hands, compared to its average volume of 4,804,079. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.96 and a current ratio of 3.29. The business’s fifty day moving average is $15.81 and its 200 day moving average is $15.52. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of -4.88, a P/E/G ratio of 1.25 and a beta of 1.42. Elanco Animal Health Incorporated has a fifty-two week low of $8.52 and a fifty-two week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last posted 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. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the business earned $0.45 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts predict that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ELAN has been the topic of a number of research analyst reports. Barclays cut their price target on shares of Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. Piper Sandler cut their target price on Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.57.

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.