Redmile Group LLC Purchases Shares of 676,039 Elanco Animal Health Incorporated (NYSE:ELAN)

Redmile Group LLC acquired a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 676,039 shares of the company’s stock, valued at approximately $11,006,000. Redmile Group LLC owned approximately 0.14% of Elanco Animal Health as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the company. Hunter Associates Investment Management LLC boosted its stake in Elanco Animal Health by 5.1% in the first quarter. Hunter Associates Investment Management LLC now owns 16,600 shares of the company’s stock valued at $269,000 after acquiring an additional 800 shares in the last quarter. Bfsg LLC lifted its stake in shares of Elanco Animal Health by 8.2% in the first quarter. Bfsg LLC now owns 14,885 shares of the company’s stock valued at $242,000 after purchasing an additional 1,125 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Elanco Animal Health by 10.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,123 shares of the company’s stock worth $181,000 after purchasing an additional 1,127 shares in the last quarter. Commerce Bank grew its stake in Elanco Animal Health by 3.8% in the 4th quarter. Commerce Bank now owns 33,665 shares of the company’s stock valued at $502,000 after acquiring an additional 1,223 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in Elanco Animal Health during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Insider Transactions at Elanco Animal Health

In other news, Director William F. Doyle bought 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was bought at an average price of $16.98 per share, for a total transaction of $254,700.00. Following the transaction, the director now owns 76,330 shares in the company, valued at $1,296,083.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.57% of the company’s stock.

Elanco Animal Health Trading Up 0.2 %

Shares of Elanco Animal Health stock traded up $0.02 during trading hours on Monday, hitting $12.92. The company’s stock had a trading volume of 5,585,517 shares, compared to its average volume of 4,804,079. The business has a fifty day moving average of $15.81 and a 200 day moving average of $15.52. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.95. Elanco Animal Health Incorporated has a 1-year low of $8.52 and a 1-year high of $18.80. The company has a market capitalization of $6.38 billion, a PE ratio of -4.88, a P/E/G ratio of 1.25 and a beta of 1.42.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. Elanco Animal Health had a negative net margin of 29.83% and a positive return on equity of 5.98%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, equities analysts forecast that Elanco Animal Health Incorporated will post 0.93 EPS for the current year.

Analysts Set New Price Targets

ELAN has been the subject of a number of analyst reports. Piper Sandler cut their price objective on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. Barclays dropped their target price on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.57.

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.