Linscomb Wealth Inc. Purchases 2,975 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Linscomb Wealth Inc. increased its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 3.6% during the 3rd quarter, Holdings Channel reports. The firm owned 85,447 shares of the company’s stock after buying an additional 2,975 shares during the period. Linscomb Wealth Inc.’s holdings in Elanco Animal Health were worth $1,255,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Elanco Animal Health by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock worth $360,425,000 after purchasing an additional 852,281 shares during the period. Ancora Advisors LLC boosted its position in Elanco Animal Health by 1.4% during the 1st quarter. Ancora Advisors LLC now owns 10,641,194 shares of the company’s stock valued at $173,239,000 after acquiring an additional 143,326 shares in the last quarter. Magnetar Financial LLC grew its holdings in shares of Elanco Animal Health by 61.2% during the 2nd quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock worth $120,298,000 after acquiring an additional 3,164,350 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Elanco Animal Health by 11.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,990,546 shares of the company’s stock worth $86,444,000 after acquiring an additional 609,194 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Elanco Animal Health in the 2nd quarter valued at approximately $55,599,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analyst Upgrades and Downgrades

ELAN has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a research note on Thursday, September 19th. Barclays upped their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $17.00 to $15.00 in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Elanco Animal Health currently has a consensus rating of “Hold” and an average target price of $17.14.

Elanco Animal Health Stock Down 0.4 %

NYSE:ELAN opened at $13.98 on Friday. 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 $6.91 billion, a P/E ratio of 34.95, a P/E/G ratio of 1.48 and a beta of 1.41. Elanco Animal Health Incorporated has a fifty-two week low of $11.20 and a fifty-two week high of $18.80. The firm has a 50-day simple moving average of $13.82 and a two-hundred day simple moving average of $14.75.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share. Analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Elanco Animal Health

In related news, Director Michael J. Harrington bought 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were bought at an average price of $14.85 per share, for a total transaction of $51,975.00. Following the completion of the acquisition, the director now owns 81,094 shares of the company’s stock, valued at $1,204,245.90. This trade represents a 4.51 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

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.