Cannon Global Investment Management LLC Purchases New Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Cannon Global Investment Management LLC purchased a new position in Elanco Animal Health Incorporated (NYSE:ELAN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 37,500 shares of the company’s stock, valued at approximately $454,000.

A number of other institutional investors have also added to or reduced their stakes in ELAN. LPL Financial LLC lifted its stake in Elanco Animal Health by 15.9% in the 4th 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 in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Elanco Animal Health in the fourth quarter worth $715,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Elanco Animal Health in the fourth quarter worth $1,232,000. Hillsdale Investment Management Inc. raised its position in shares of 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 buying an additional 900 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Elanco Animal Health by 1.8% during the fourth quarter. American Century Companies Inc. now owns 128,264 shares of the company’s stock worth $1,553,000 after buying an additional 2,280 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. UBS Group dropped their price target on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Barclays dropped 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. Leerink Partners started coverage on shares of Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 target price for the company. Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. Finally, Piper Sandler dropped their price objective on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Elanco Animal Health has a consensus rating of “Hold” and an average price target of $15.17.

Elanco Animal Health Trading Down 0.3 %

Shares of ELAN opened at $10.55 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 2.50 and a beta of 1.44. The firm has a 50 day moving average price of $11.36 and a 200-day moving average price of $12.57. Elanco Animal Health Incorporated has a fifty-two week low of $10.03 and a fifty-two week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm posted $0.08 EPS. The company’s revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Buying and Selling at Elanco Animal Health

In other news, Director Lawrence Erik Kurzius acquired 10,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $10.20 per share, with a total value of $102,000.00. Following the completion of the purchase, the director now owns 111,459 shares in the company, valued at approximately $1,136,881.80. The trade was a 9.86 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Elanco Animal Health Company 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.