Legacy Capital Group California Inc. Invests $194,000 in Elanco Animal Health Incorporated (NYSE:ELAN)

Legacy Capital Group California Inc. purchased a new stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,991 shares of the company’s stock, valued at approximately $194,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ELAN. JPMorgan Chase & Co. lifted its position in shares of Elanco Animal Health by 76.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock worth $147,747,000 after buying an additional 4,361,799 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Elanco Animal Health during the third quarter valued at approximately $19,708,000. Assenagon Asset Management S.A. lifted its holdings in Elanco Animal Health by 363.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock worth $22,748,000 after acquiring an additional 1,214,123 shares during the period. Private Management Group Inc. boosted its position in Elanco Animal Health by 63.4% in the fourth quarter. Private Management Group Inc. now owns 2,357,142 shares of the company’s stock worth $28,545,000 after purchasing an additional 914,808 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Elanco Animal Health in the third quarter worth $9,969,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Elanco Animal Health Stock Performance

NYSE ELAN opened at $11.02 on Friday. The firm has a market cap of $5.45 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 2.53 and a beta of 1.42. 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 company’s 50 day moving average is $11.80 and its 200-day moving average is $13.09. Elanco Animal Health Incorporated has a 12-month low of $10.77 and a 12-month high of $18.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Stifel Nicolaus lowered their price objective on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday. Barclays increased 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. Leerink Partners began coverage on shares of Elanco Animal Health in a report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price target on the stock. Finally, UBS Group began coverage on Elanco Animal Health in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $16.00.

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.