Swiss National Bank Buys 7,700 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Swiss National Bank raised its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 972,292 shares of the company’s stock after acquiring an additional 7,700 shares during the quarter. Swiss National Bank owned approximately 0.20% of Elanco Animal Health worth $11,774,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Commerce Bank lifted its holdings in shares of Elanco Animal Health by 2.2% during the third quarter. Commerce Bank now owns 35,114 shares of the company’s stock valued at $516,000 after acquiring an additional 741 shares during the period. Arizona State Retirement System lifted its holdings in shares of Elanco Animal Health by 0.8% during the fourth quarter. Arizona State Retirement System now owns 143,462 shares of the company’s stock valued at $1,737,000 after acquiring an additional 1,166 shares during the period. MTM Investment Management LLC lifted its holdings in shares of Elanco Animal Health by 9.3% during the fourth quarter. MTM Investment Management LLC now owns 14,168 shares of the company’s stock valued at $172,000 after acquiring an additional 1,200 shares during the period. M&T Bank Corp lifted its holdings in shares of Elanco Animal Health by 5.9% during the third quarter. M&T Bank Corp now owns 26,407 shares of the company’s stock valued at $388,000 after acquiring an additional 1,464 shares during the period. Finally, Parkman Healthcare Partners LLC lifted its holdings in shares of Elanco Animal Health by 1.4% during the third quarter. Parkman Healthcare Partners LLC now owns 127,812 shares of the company’s stock valued at $1,878,000 after acquiring an additional 1,770 shares during the period. 97.48% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Lawrence Erik Kurzius bought 10,000 shares of Elanco Animal Health stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $10.20 per share, for a total transaction of $102,000.00. Following the completion of the acquisition, the director now owns 111,459 shares in the company, valued at approximately $1,136,881.80. This represents a 9.86 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.57% of the company’s stock.

Elanco Animal Health Price Performance

Shares of ELAN stock opened at $10.60 on Friday. The stock has a 50-day moving average price of $11.38 and a 200 day moving average price of $12.64. 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 firm has a market cap of $5.24 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 2.50 and a beta of 1.44. Elanco Animal Health Incorporated has a 12 month low of $10.03 and a 12 month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the business earned $0.08 earnings per share. Elanco Animal Health’s revenue for the quarter was down 1.4% compared to the same quarter last year. Research analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ELAN shares. Morgan Stanley lowered their target price on Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. UBS Group lowered their target price on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Stifel Nicolaus lowered their target price on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Finally, Piper Sandler lowered their target price on 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.17.

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.