Phocas Financial Corp. Has $3.37 Million Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Phocas Financial Corp. cut its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 44.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 229,551 shares of the company’s stock after selling 184,554 shares during the period. Phocas Financial Corp.’s holdings in Elanco Animal Health were worth $3,372,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ELAN. Price T Rowe Associates Inc. MD raised its stake in Elanco Animal Health by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock valued at $360,425,000 after acquiring an additional 852,281 shares during the period. Ancora Advisors LLC lifted its position in Elanco Animal Health by 1.4% during the first quarter. Ancora Advisors LLC now owns 10,641,194 shares of the company’s stock worth $173,239,000 after acquiring an additional 143,326 shares during the last quarter. Magnetar Financial LLC boosted its holdings in shares of Elanco Animal Health by 61.2% during the second quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock worth $120,298,000 after acquiring an additional 3,164,350 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Elanco Animal Health by 11.3% in the second quarter. The Manufacturers Life Insurance Company now owns 5,990,546 shares of the company’s stock valued at $86,444,000 after purchasing an additional 609,194 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Elanco Animal Health during the second quarter worth approximately $55,599,000. 97.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on ELAN. Stifel Nicolaus restated a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a research note on Thursday, September 19th. Barclays boosted their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $17.00 to $15.00 in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.14.

Elanco Animal Health Stock Performance

NYSE ELAN opened at $13.31 on Wednesday. The firm’s 50 day simple moving average is $13.76 and its 200 day simple moving average is $14.77. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 33.28, a P/E/G ratio of 1.46 and a beta of 1.41. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. Elanco Animal Health Incorporated has a 1 year low of $11.40 and a 1 year high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 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 $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the company posted $0.18 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, research analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael J. Harrington acquired 3,500 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was acquired at an average cost of $14.85 per share, for a total transaction of $51,975.00. Following the transaction, the director now directly owns 81,094 shares in the company, valued at $1,204,245.90. This trade represents a 4.51 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.57% of the company’s stock.

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.