Private Management Group Inc. Reduces Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Private Management Group Inc. lowered its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 24.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 712,303 shares of the company’s stock after selling 227,379 shares during the period. Private Management Group Inc.’s holdings in Elanco Animal Health were worth $10,613,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in shares of Elanco Animal Health in the third quarter worth $95,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Elanco Animal Health in the third quarter worth $129,000. Innovis Asset Management LLC purchased a new stake in shares of Elanco Animal Health in the third quarter worth $144,000. CWM LLC raised its position in shares of Elanco Animal Health by 19.5% in the third quarter. CWM LLC now owns 12,990 shares of the company’s stock worth $146,000 after buying an additional 2,122 shares in the last quarter. Finally, Ieq Capital LLC raised its position in shares of Elanco Animal Health by 10.8% in the third quarter. Ieq Capital LLC now owns 13,464 shares of the company’s stock worth $151,000 after buying an additional 1,311 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Trading Down 1.1 %

Shares of ELAN stock traded down $0.15 during mid-day trading on Wednesday, reaching $13.31. 3,812,137 shares of the company’s stock traded hands, compared to its average volume of 4,382,576. Elanco Animal Health Incorporated has a 12 month low of $7.88 and a 12 month high of $16.88. The firm has a 50 day moving average price of $15.55 and a two-hundred day moving average price of $13.75. The company has a current ratio of 2.75, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Elanco Animal Health had a negative net margin of 27.87% and a positive return on equity of 6.44%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the firm earned $0.19 EPS. The company’s revenue was up 5.1% on a year-over-year basis. Equities analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Insider Activity

In other news, Director R David Hoover bought 20,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $16.14 per share, for a total transaction of $322,800.00. Following the purchase, the director now owns 185,000 shares in the company, valued at $2,985,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ELAN. The Goldman Sachs Group raised their price target on shares of Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a research report on Tuesday, February 27th. Barclays lifted their target price on shares of Elanco Animal Health from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. TheStreet raised shares of Elanco Animal Health from a “d+” rating to a “c-” rating in a research report on Friday, February 23rd. Stifel Nicolaus raised shares of Elanco Animal Health from a “hold” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $20.00 in a research report on Friday, January 5th. Finally, Morgan Stanley lifted 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 report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.71.

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.