Phocas Financial Corp. Lowers Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Phocas Financial Corp. reduced its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 85.0% in the fourth quarter, HoldingsChannel reports. The fund owned 34,528 shares of the company’s stock after selling 195,023 shares during the period. Phocas Financial Corp.’s holdings in Elanco Animal Health were worth $418,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. AM Squared Ltd purchased a new position in Elanco Animal Health in the third quarter worth about $34,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Elanco Animal Health in the third quarter worth approximately $35,000. Farther Finance Advisors LLC grew its stake in shares of Elanco Animal Health by 158.7% in the third quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company’s stock worth $49,000 after acquiring an additional 2,044 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Elanco Animal Health by 89.9% in the third quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company’s stock worth $50,000 after acquiring an additional 1,601 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Elanco Animal Health by 2,129.2% in the third quarter. Blue Trust Inc. now owns 3,968 shares of the company’s stock worth $57,000 after acquiring an additional 3,790 shares during the period. 97.48% of the stock is owned by hedge funds and other institutional investors.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN opened at $11.15 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. Elanco Animal Health Incorporated has a 1-year low of $10.20 and a 1-year high of $18.80. The company has a market capitalization of $5.51 billion, a P/E ratio of 27.88, a P/E/G ratio of 2.50 and a beta of 1.42. The firm’s 50 day simple moving average is $11.74 and its two-hundred day simple moving average is $13.06.

Elanco Animal Health (NYSE:ELAN) last issued 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). Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the firm earned $0.08 EPS. Elanco Animal Health’s revenue for the quarter was down 1.4% compared to the same quarter last year. Research analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ELAN has been the subject of a number of research analyst reports. Leerink Partners initiated coverage on shares of Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price target for the company. Stifel Nicolaus reduced their price target on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, February 21st. UBS Group reduced their price target on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday. Morgan Stanley cut their target price on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Barclays cut 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Elanco Animal Health has an average rating of “Hold” and a consensus target price of $15.57.

Elanco Animal Health 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.