Zurcher Kantonalbank Zurich Cantonalbank reduced its equity stake in Elanco Animal Health Incorporated (NYSE: MOMENTUM – Get a rating) by 20.3% in the 1st quarter, HoldingsChannel.com reports. The company held 55,738 shares of the company after selling 14,184 shares during the period. Zurcher Kantonalbank Zurcher Kantonalbank’s holdings in Elanco Animal Health were worth $1,454,000 at the end of the last reporting period.
Other institutional investors and hedge funds also changed their positions in the company. Dodge & Cox increased its stake 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 in the last quarter. State Street Corp increased its stake in shares of Elanco Animal Health by 5.0% in the fourth quarter. State Street Corp now owns 12,576,000 shares of the company valued at $356,907,000 after purchasing an additional 595,779 shares last quarter. Goldman Sachs Group Inc. increased its position in shares of Elanco Animal Health by 11.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 10,564,063 shares of the company valued at $299,808,000 after acquiring 1,113,073 additional shares in the last quarter. Starboard Value LP increased its equity stake in Elanco Animal Health by 5.1% during the 4th quarter. Starboard Value LP now owns 7,685,555 shares of the company worth $218,116,000 after acquiring 373,843 additional shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Elanco Animal Health by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,604,908 shares of the company worth $158,838,000 after acquiring an additional 191,387 shares in the last quarter.
NYSE: MOMENTUM opened at $20.45 on Friday. The company’s fifty-day moving average price is $22.32 and its 200-day moving average price is $25.13. The company has a market capitalization of $9.70 billion, a price/earnings ratio of -27.63, a PEG ratio of 1.01 and a beta of 0.81. The company has a current ratio of 2.44, a quick ratio of 1.41 and a debt ratio of 0.80. Elanco Animal Health Incorporated has a 1-year minimum of $19.34 and a 1-year maximum of $37.49.
Elanco Animal Health (NYSE: MOMENTUM – Get a rating) last released its results on Monday, May 9. The company reported earnings per share of $0.36 for the quarter, beating the consensus estimate of $0.35 by $0.01. The company posted revenue of $1.23 billion for the quarter, versus $1.22 billion for analysts. Elanco Animal Health had a positive return on equity of 6.61% and a negative net margin of 7.65%. The company’s revenue for the quarter was down 1.4% year over year. In the same quarter a year earlier, the company posted EPS of $0.37. Stock analysts expect Elanco Animal Health Incorporated to post 1.17 earnings per share for the current year.
In related news, the director David Hoover bought 10,000 shares of the company in a trade on Friday, May 20. The stock was purchased at an average price of $23.33 per share, with a total value of $233,300.00. Following the purchase, the director now directly owns 125,000 shares of the company, valued at approximately $2,916,250. The transaction was disclosed in an SEC filing, available at this hyperlink. 6.40% of the shares are currently held by company insiders.
Several equity research analysts have recently commented on ELAN shares. Stifel Nicolaus cut his target price on Elanco Animal Health from $30.00 to $22.00 and set a “holding” rating for the company in a Friday, June 24 report. Goldman Sachs Group lowered its price target on Elanco Animal Health shares from $37.00 to $32.00 and set a “buy” rating for the company in a Thursday, May 19 report. Finally, Morgan Stanley cut its price target on shares of Elanco Animal Health to $37.00 and set an “overweight” rating on the stock in a Tuesday, May 17 report. Two research analysts rated the stock with a hold rating and three assigned the stock a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.20.
Company Profile Elanco Animal Health (Get a rating)
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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