Heritage Investors Management Corp Sells 2,519 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Heritage Investors Management Corp lowered its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 1.4% during the fourth quarter, HoldingsChannel reports. The fund owned 174,077 shares of the company’s stock after selling 2,519 shares during the quarter. Heritage Investors Management Corp’s holdings in Elanco Animal Health were worth $2,594,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of 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 shares of Elanco Animal Health during the fourth quarter valued at $169,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Elanco Animal Health during the third quarter worth $129,000. Allspring Global Investments Holdings LLC grew its stake in shares of Elanco Animal Health by 10.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,123 shares of the company’s stock worth $181,000 after purchasing an additional 1,127 shares during the last quarter. Finally, Innovis Asset Management LLC acquired a new stake in Elanco Animal Health in the third quarter valued at $144,000. 97.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elanco Animal Health

In other Elanco Animal Health 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 acquisition, the director now directly owns 185,000 shares of the company’s stock, valued at approximately $2,985,900. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.57% of the company’s stock.

Elanco Animal Health Stock Up 1.9 %

ELAN traded up $0.31 during midday trading on Thursday, hitting $17.21. The company had a trading volume of 7,407,675 shares, compared to its average volume of 4,585,274. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of -6.79, a PEG ratio of 1.42 and a beta of 1.34. The stock’s 50 day moving average price is $14.98 and its 200 day moving average price is $14.04. The company has a quick ratio of 1.35, a current ratio of 2.75 and a debt-to-equity ratio of 0.92. Elanco Animal Health Incorporated has a 52 week low of $7.88 and a 52 week high of $17.43.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. 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 $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the company earned $0.45 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. TheStreet raised Elanco Animal Health from a “d+” rating to a “c-” rating in a research note on Friday, February 23rd. Morgan Stanley raised their price target on shares of Elanco Animal Health from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. The Goldman Sachs Group upped their price objective on shares of Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a research note on Tuesday, February 27th. Finally, Barclays boosted their target price on shares of Elanco Animal Health from $19.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Elanco Animal Health presently has an average rating of “Moderate Buy” and a consensus target price of $17.29.

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.