Harvest Fund Management Co. Ltd Acquires 5,947 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Harvest Fund Management Co. Ltd boosted its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 3,267.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,129 shares of the company’s stock after buying an additional 5,947 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Elanco Animal Health were worth $74,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC raised its stake in shares of Elanco Animal Health by 28.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,264 shares of the company’s stock valued at $124,000 after buying an additional 2,264 shares during the period. DDD Partners LLC bought a new stake in Elanco Animal Health in the 4th quarter valued at about $5,974,000. Geode Capital Management LLC lifted its holdings in Elanco Animal Health by 0.8% during the third quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock valued at $115,623,000 after purchasing an additional 65,303 shares during the last quarter. Atom Investors LP lifted its holdings in Elanco Animal Health by 310.3% during the third quarter. Atom Investors LP now owns 345,855 shares of the company’s stock valued at $5,081,000 after purchasing an additional 261,559 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in Elanco Animal Health by 24.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,084,629 shares of the company’s stock worth $13,135,000 after purchasing an additional 209,734 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Trading Down 0.3 %

Elanco Animal Health stock opened at $10.55 on Monday. The stock has a market cap of $5.22 billion, a P/E ratio of 26.38, a PEG ratio of 2.50 and a beta of 1.44. Elanco Animal Health Incorporated has a fifty-two week low of $10.03 and a fifty-two week high of $18.80. The firm’s fifty day moving average price is $11.36 and its 200-day moving average price is $12.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results 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). The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 EPS. Equities research analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Barclays dropped their price target on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley lowered their target price on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus cut their price target on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, February 21st. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Finally, Piper Sandler cut their target price on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.17.

Insider Activity at Elanco Animal Health

In other news, Director Lawrence Erik Kurzius bought 10,000 shares of Elanco Animal Health stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $10.90 per share, with a total value of $109,000.00. Following the completion of the purchase, the director now directly owns 101,459 shares in the company, valued at $1,105,903.10. The trade was a 10.93 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by insiders.

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.