Private Management Group Inc. Sells 227,379 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Private Management Group Inc. lowered its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 24.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 712,303 shares of the company’s stock after selling 227,379 shares during the quarter. Private Management Group Inc. owned approximately 0.14% of Elanco Animal Health worth $10,613,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in shares of Elanco Animal Health during the third quarter worth $95,000. HBK Sorce Advisory LLC bought a new stake in shares of Elanco Animal Health during the fourth quarter worth $169,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Elanco Animal Health during the third quarter worth $129,000. Allspring Global Investments Holdings LLC increased its holdings in 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 valued at $181,000 after purchasing an additional 1,127 shares during the last quarter. Finally, Innovis Asset Management LLC bought a new stake in Elanco Animal Health in the third quarter valued at about $144,000. Institutional investors own 97.48% of the company’s stock.

Insider Activity

In other news, Director R David Hoover purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average cost of $16.14 per share, with a total value of $322,800.00. Following the acquisition, the director now owns 185,000 shares in the company, valued at approximately $2,985,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.64% of the company’s stock.

Elanco Animal Health Price Performance

ELAN traded down $0.15 on Wednesday, hitting $13.31. 3,812,137 shares of the company were exchanged, compared to its average volume of 4,382,576. Elanco Animal Health Incorporated has a 12 month low of $7.88 and a 12 month high of $16.88. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.75. The stock’s fifty day moving average is $15.55 and its 200-day moving average is $13.75.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data 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 negative net margin of 27.87% and a positive return on equity of 6.44%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business earned $0.19 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, research analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ELAN has been the subject of a number of recent analyst reports. Morgan Stanley upped 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. TheStreet upgraded 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 boosted their target price for the company from $13.00 to $20.00 in a research note on Friday, January 5th. The Goldman Sachs Group boosted their target price on 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 Elanco Animal Health from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.71.

Elanco Animal Health Company 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.