Keene & Associates Inc. Boosts Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Keene & Associates Inc. boosted its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 27.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 29,230 shares of the company’s stock after buying an additional 6,285 shares during the quarter. Keene & Associates Inc.’s holdings in Elanco Animal Health were worth $354,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in shares of Elanco Animal Health by 76.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock valued at $147,747,000 after acquiring an additional 4,361,799 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Elanco Animal Health in the third quarter worth $19,708,000. Assenagon Asset Management S.A. lifted its stake in shares of Elanco Animal Health by 363.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock valued at $22,748,000 after buying an additional 1,214,123 shares in the last quarter. Private Management Group Inc. boosted its holdings in Elanco Animal Health by 63.4% in the 4th quarter. Private Management Group Inc. now owns 2,357,142 shares of the company’s stock worth $28,545,000 after buying an additional 914,808 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in Elanco Animal Health in the 3rd quarter worth $9,969,000. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Price Performance

Elanco Animal Health stock opened at $11.32 on Wednesday. Elanco Animal Health Incorporated has a 52-week low of $10.77 and a 52-week high of $18.80. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 2.53 and a beta of 1.42. The firm’s fifty day moving average is $11.88 and its 200 day moving average is $13.13. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ELAN. UBS Group began coverage on Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 target price for the company. Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. Morgan Stanley dropped their target price on shares of Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Barclays lifted their price target on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Leerink Partners began coverage on shares of Elanco Animal Health in a report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.29.

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.