Cannon Global Investment Management LLC Invests $454,000 in Elanco Animal Health Incorporated (NYSE:ELAN)

Cannon Global Investment Management LLC bought a new stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 37,500 shares of the company’s stock, valued at approximately $454,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ELAN. LPL Financial LLC grew its stake in Elanco Animal Health by 15.9% during the fourth quarter. LPL Financial LLC now owns 161,183 shares of the company’s stock worth $1,952,000 after purchasing an additional 22,163 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Elanco Animal Health during the 4th quarter worth approximately $715,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Elanco Animal Health during the 4th quarter worth approximately $1,232,000. Hillsdale Investment Management Inc. grew its holdings in Elanco Animal Health by 2.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company’s stock worth $524,000 after purchasing an additional 900 shares during the period. Finally, American Century Companies Inc. grew its holdings in Elanco Animal Health by 1.8% in the fourth quarter. American Century Companies Inc. now owns 128,264 shares of the company’s stock worth $1,553,000 after purchasing an additional 2,280 shares during the period. Institutional investors own 97.48% of the company’s stock.

Insider Buying and Selling

In other news, Director Lawrence Erik Kurzius acquired 10,000 shares of Elanco Animal Health stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $10.90 per share, with a total value of $109,000.00. Following the completion of the acquisition, the director now owns 101,459 shares in the company, valued at approximately $1,105,903.10. This trade represents a 10.93 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is owned by insiders.

Elanco Animal Health Stock Performance

ELAN stock opened at $10.55 on Monday. The firm has a market cap of $5.22 billion, a PE ratio of 26.38, a P/E/G ratio of 2.50 and a beta of 1.44. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average of $11.36 and a 200-day moving average of $12.57. Elanco Animal Health Incorporated has a 12-month low of $10.03 and a 12-month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the firm posted $0.08 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, 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 commented on ELAN shares. Leerink Partners started coverage on Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 target price for the company. UBS Group decreased their price objective on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Morgan Stanley decreased their price objective on Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Piper Sandler reduced their price target on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Finally, Barclays decreased their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.17.

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.