Douglas Lane & Associates LLC Has $63.65 Million Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Douglas Lane & Associates LLC reduced its position in shares of Elanco Animal Health Incorporated (NYSE:ELANFree Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,909,460 shares of the company’s stock after selling 17,770 shares during the period. Douglas Lane & Associates LLC owned approximately 0.79% of Elanco Animal Health worth $63,646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ELAN. Norges Bank bought a new position in Elanco Animal Health during the 4th quarter worth $62,510,000. Dimensional Fund Advisors LP increased its stake in shares of Elanco Animal Health by 33.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,095,179 shares of the company’s stock valued at $224,920,000 after purchasing an additional 3,816,514 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of Elanco Animal Health in the 3rd quarter valued at $37,189,000. Primecap Management Co. CA increased its stake in shares of Elanco Animal Health by 2.9% in the 4th quarter. Primecap Management Co. CA now owns 50,600,324 shares of the company’s stock valued at $753,945,000 after purchasing an additional 1,431,665 shares during the last quarter. Finally, Wolf Hill Capital Management LP bought a new position in shares of Elanco Animal Health in the 4th quarter valued at $20,683,000. 97.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ELAN. Piper Sandler reiterated a “neutral” rating and issued a $19.00 price target (up previously from $18.00) on shares of Elanco Animal Health in a research note on Monday, May 13th. The Goldman Sachs Group raised their price objective on Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a report on Tuesday, February 27th. Barclays raised their price objective on Elanco Animal Health from $19.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Finally, Morgan Stanley raised their price objective on Elanco Animal Health from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. One research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.29.

Get Our Latest Research Report on ELAN

Elanco Animal Health Stock Down 0.8 %

Shares of NYSE:ELAN traded down $0.15 during midday trading on Friday, reaching $18.05. The company’s stock had a trading volume of 3,896,886 shares, compared to its average volume of 3,344,120. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average price of $16.13 and a two-hundred day moving average price of $15.57. 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:ELANGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.34 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the company posted $0.45 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts forecast that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director William F. Doyle acquired 15,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was purchased at an average cost of $16.98 per share, with a total value of $254,700.00. Following the acquisition, the director now owns 76,330 shares of the company’s stock, valued at approximately $1,296,083.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.57% of the company’s stock.

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.

Recommended Stories

Want to see what other hedge funds are holding ELAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elanco Animal Health Incorporated (NYSE:ELANFree Report).

Institutional Ownership by Quarter for Elanco Animal Health (NYSE:ELAN)

Receive News & Ratings for Elanco Animal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elanco Animal Health and related companies with MarketBeat.com's FREE daily email newsletter.