AlphaQuest LLC Has $68,000 Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

AlphaQuest LLC reduced its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 65.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,619 shares of the company’s stock after selling 10,582 shares during the period. AlphaQuest LLC’s holdings in Elanco Animal Health were worth $68,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in shares of Elanco Animal Health by 10.2% in the third quarter. Victory Capital Management Inc. now owns 102,414 shares of the company’s stock valued at $1,504,000 after acquiring an additional 9,480 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Elanco Animal Health by 81.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 33,193 shares of the company’s stock valued at $488,000 after purchasing an additional 14,902 shares during the last quarter. Quest Partners LLC grew its holdings in shares of Elanco Animal Health by 915.1% during the third quarter. Quest Partners LLC now owns 16,201 shares of the company’s stock worth $238,000 after purchasing an additional 14,605 shares during the last quarter. Pathstone Holdings LLC increased its stake in shares of Elanco Animal Health by 0.7% in the third quarter. Pathstone Holdings LLC now owns 546,793 shares of the company’s stock valued at $8,032,000 after buying an additional 3,698 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Elanco Animal Health in the third quarter valued at about $572,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on ELAN. Stifel Nicolaus decreased their price objective on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Barclays lowered their price target on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Leerink Partners began coverage on Elanco Animal Health in a report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price objective on the stock. 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. Finally, Morgan Stanley dropped 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 report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $15.17.

Elanco Animal Health Price Performance

Shares of ELAN stock opened at $10.85 on Thursday. The firm’s 50 day moving average price is $11.40 and its two-hundred day moving average price is $12.66. The stock has a market cap of $5.36 billion, a PE ratio of 27.11, a PEG ratio of 2.50 and a beta of 1.44. Elanco Animal Health Incorporated has a 52-week low of $10.03 and a 52-week high of $18.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55.

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 company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm earned $0.08 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Insider Activity

In other news, Director Lawrence Erik Kurzius acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $10.20 per share, for a total transaction of $102,000.00. Following the transaction, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is available at this link. 0.57% 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.