Channing Capital Management LLC Increases Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Channing Capital Management LLC raised its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 558,221 shares of the company’s stock after buying an additional 15,606 shares during the period. Channing Capital Management LLC owned about 0.11% of Elanco Animal Health worth $8,317,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Acadian Asset Management LLC purchased a new position in shares of Elanco Animal Health in the 3rd quarter valued at about $95,000. HBK Sorce Advisory LLC acquired a new position in shares of Elanco Animal Health during the 4th quarter worth approximately $169,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Elanco Animal Health during the 3rd quarter valued at approximately $129,000. Allspring Global Investments Holdings LLC grew its stake in Elanco Animal Health by 10.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,123 shares of the company’s stock valued at $181,000 after acquiring an additional 1,127 shares during the period. Finally, Innovis Asset Management LLC purchased a new stake in Elanco Animal Health in the 3rd quarter worth $144,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

Insider Transactions at Elanco Animal Health

In other Elanco Animal Health news, Director R David Hoover acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average cost of $16.14 per share, for a total transaction of $322,800.00. Following the completion of the acquisition, the director now owns 185,000 shares of the company’s stock, valued at approximately $2,985,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.57% of the company’s stock.

Elanco Animal Health Trading Up 0.4 %

NYSE:ELAN traded up $0.06 during trading hours on Friday, hitting $13.53. The company had a trading volume of 3,719,972 shares, compared to its average volume of 4,351,298. Elanco Animal Health Incorporated has a 1 year low of $7.88 and a 1 year high of $16.88. The company has a market cap of $6.69 billion, a P/E ratio of -5.41, a P/E/G ratio of 1.42 and a beta of 1.34. The company has a 50-day moving average of $15.08 and a 200 day moving average of $13.96. 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 announced its quarterly earnings results on Monday, February 26th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the firm posted $0.19 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Barclays lifted their target price on shares of Elanco Animal Health from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group increased their target price on Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a report on Tuesday, February 27th. TheStreet raised Elanco Animal Health from a “d+” rating to a “c-” rating in a research note on Friday, February 23rd. 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 analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Elanco Animal Health presently has an average rating of “Moderate Buy” and an average price target of $16.71.

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.