Daiwa Securities Group Inc. raised its position in shares of Elanco Animal Health Incorporated (NYSE: MOMENTUM – Get a rating) by 4.5% in the first quarter, according to the company in its latest filing with the Securities & Exchange Commission. The institutional investor held 42,804 shares of the company after purchasing an additional 1,858 shares during the period. Daiwa Securities Group Inc.’s holdings in Elanco Animal Health were worth $1,116,000 when it last filed with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also bought and sold shares of ELAN. Dodge & Cox increased its position in Elanco Animal Health by 510.5% during the fourth quarter. Dodge & Cox now owns 22,218,300 shares of the company valued at $630,555,000 after purchasing an additional 18,579,176 shares last quarter. DE Shaw & Co. Inc. increased its position in Elanco Animal Health by 141.0% during the 4th quarter. DE Shaw & Co. Inc. now owns 3,909,411 shares of the company valued at $110,949,000 after purchasing an additional 2,287,366 shares in the last quarter. Bank of Montreal Can increased its position in Elanco Animal Health by 300.0% during the 4th quarter. Bank of Montreal Can now owns 1,670,325 shares of the company valued at $47,981,000 after purchasing an additional 1,252,733 shares last quarter. Rockefeller Capital Management LP increased its position in Elanco Animal Health by 42.3% during the fourth quarter. Rockefeller Capital Management LP now owns 3,784,198 shares of the company valued at $107,394,000 after purchasing an additional 1,125,644 shares last quarter. Finally, Goldman Sachs Group Inc. increased its position in Elanco Animal Health by 11.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 10,564,063 shares of the company valued at $299,808,000 after purchasing an additional 1,113,073 shares last quarter.
Elanco Animal Health trades up 0.2%
Shares of NYSE: MOMENTUM opened at $20.65 on Friday. The company’s 50-day moving average is $21.72 and its 200-day moving average is $24.57. Elanco Animal Health Incorporated has a 1-year minimum of $19.11 and a 1-year maximum of $37.49. The company has a market capitalization of $9.79 billion, a P/E ratio of -27.91, a P/E/G ratio of 1.02 and a beta of 0.81. The company has a debt ratio of 0.80, a current ratio of 2.44 and a quick ratio of 1.41.
Elanco Animal Health (NYSE: MOMENTUM – Get a rating) last announced its results on Monday, May 9. The company reported earnings per share (EPS) of $0.36 for the quarter, beating the consensus estimate of $0.35 by $0.01. Elanco Animal Health had a positive return on equity of 6.61% and a negative net margin of 7.65%. The company posted revenue of $1.23 billion for the quarter, compared to analysts’ estimates of $1.22 billion. During the same period of the previous year, the company posted EPS of $0.37. The company’s quarterly revenue fell 1.4% from the same quarter last year. On average, research analysts expect Elanco Animal Health Incorporated to post 1.15 earnings per share for the current fiscal year.
Analysts set new price targets
Several research analysts have recently commented on ELAN’s actions. Morgan Stanley cut its price target on Elanco Animal Health to $37.00 and set an “overweight” rating for the company in a Tuesday, May 17 research report. Piper Sandler began covering Elanco Animal Health in a research report on Monday, July 11. They issued a “neutral” rating and a price target of $22.00 for the company. Goldman Sachs Group downgraded Elanco Animal Health from a “buy” rating to a “sell” rating and cut its price target for the stock from $32.00 to $19.00 in a research report on Thursday. Finally, Stifel Nicolaus reduced his price target on Elanco Animal Health from $30.00 to $22.00 and set a “hold” rating for the company in a Friday, June 24 research report. One research analyst rated the stock with a sell rating, three gave the stock a hold rating, and two gave the stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $28.33.
Insider Activity at Elanco Animal Health
In other news, Director John P. Bilbrey bought 10,000 shares of the company in a trade on Wednesday, May 11. The shares were acquired at an average price of $22.03 per share, for a total transaction of $220,300.00. Following the purchase, the administrator now owns 34,222 shares of the company, valued at $753,910.66. The acquisition was disclosed in a filing with the SEC, which is available via the SEC website. 6.40% of the shares are currently held by company insiders.
Company Profile Elanco Animal Health
Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures and markets pet and farm animal products. It offers pet disease prevention products, such as parasiticides and vaccines that protect animals against worms, fleas and ticks under the Seresto, Advantage, Advantix and Advocate brand names; companion animal health therapies for pain, osteoarthritis, ear infections, cardiovascular and dermatological indications in dogs and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides and other products for 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.
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