Handelsbanken Fonder AB Acquires 9,800 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Handelsbanken Fonder AB boosted its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 11.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 92,200 shares of the company’s stock after buying an additional 9,800 shares during the period. Handelsbanken Fonder AB’s holdings in Elanco Animal Health were worth $1,374,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in Elanco Animal Health in the 3rd quarter valued at approximately $95,000. HBK Sorce Advisory LLC bought a new position in Elanco Animal Health in the 4th quarter valued at approximately $169,000. C M Bidwell & Associates Ltd. bought a new position in Elanco Animal Health in the 3rd quarter valued at approximately $129,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Elanco Animal Health by 10.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,123 shares of the company’s stock valued at $181,000 after buying an additional 1,127 shares during the period. Finally, Innovis Asset Management LLC bought a new position in shares of Elanco Animal Health during the 3rd quarter valued at $144,000. 97.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. TheStreet raised Elanco Animal Health from a “d+” rating to a “c-” rating in a report on Friday, February 23rd. Stifel Nicolaus raised Elanco Animal Health from a “hold” rating to a “buy” rating and increased their price target for the company from $13.00 to $20.00 in a report on Friday, January 5th. Morgan Stanley increased their price target on Elanco Animal Health from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Barclays increased their price target on Elanco Animal Health from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group increased their price target on Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.71.

Elanco Animal Health Trading Up 1.7 %

NYSE:ELAN opened at $13.26 on Friday. Elanco Animal Health Incorporated has a one year low of $7.88 and a one year high of $16.88. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.75 and a quick ratio of 1.35. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of -5.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.29. The business has a fifty day moving average price of $15.36 and a 200-day moving average price of $13.79.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings results 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 positive return on equity of 6.44% and a negative net margin of 27.87%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the previous year, the company posted $0.19 EPS. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Insiders Place Their Bets

In other Elanco Animal Health news, Director R David Hoover purchased 20,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was acquired 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 of the company’s stock, valued at approximately $2,985,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.40% of the stock is currently owned by company insiders.

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.