Resonant Capital Advisors LLC Raises Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Resonant Capital Advisors LLC raised its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 19.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 25,789 shares of the company’s stock after buying an additional 4,172 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Elanco Animal Health were worth $384,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sapient Capital LLC acquired a new stake in shares of Elanco Animal Health in the fourth quarter worth $2,046,000. Phocas Financial Corp. acquired a new stake in Elanco Animal Health in the 4th quarter valued at $3,857,000. Ancora Advisors LLC purchased a new position in Elanco Animal Health in the third quarter valued at about $37,189,000. UBS Group AG raised its position in Elanco Animal Health by 78.2% in the third quarter. UBS Group AG now owns 681,905 shares of the company’s stock valued at $7,665,000 after purchasing an additional 299,166 shares during the period. Finally, Raymond James & Associates lifted its stake in shares of Elanco Animal Health by 210.9% during the third quarter. Raymond James & Associates now owns 1,015,294 shares of the company’s stock worth $11,412,000 after purchasing an additional 688,779 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus upgraded Elanco Animal Health from a “hold” rating to a “buy” rating and increased their target price for the company from $13.00 to $20.00 in a research note on Friday, January 5th. TheStreet raised shares of Elanco Animal Health from a “d+” rating to a “c-” rating in a research report on Friday, February 23rd. Morgan Stanley lifted their price objective on shares of Elanco Animal Health from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group upped their target price 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 raised their price target on shares of Elanco Animal Health from $18.00 to $19.00 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 given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.71.

Elanco Animal Health Price Performance

Elanco Animal Health stock opened at $12.95 on Friday. Elanco Animal Health Incorporated has a 52 week low of $7.88 and a 52 week high of $16.88. The company has a current ratio of 2.75, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average of $15.66 and a 200-day moving average of $13.65.

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

Insider Buying and Selling

In other news, Director R David Hoover acquired 20,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of $16.14 per share, for a total transaction of $322,800.00. Following the completion of the purchase, the director now directly 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 is available through the SEC website. Insiders own 6.40% of the company’s stock.

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.