Ingalls & Snyder LLC Decreases Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Ingalls & Snyder LLC decreased its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN – Get Rating) by 16.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,019 shares of the company’s stock after selling 6,144 shares during the period. Ingalls & Snyder LLC’s holdings in Elanco Animal Health were worth $909,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. purchased a new position in shares of Elanco Animal Health in the third quarter worth $36,000. CIBC Asset Management Inc raised its holdings in shares of Elanco Animal Health by 17.3% in the third quarter. CIBC Asset Management Inc now owns 20,796 shares of the company’s stock worth $663,000 after buying an additional 3,062 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Elanco Animal Health by 25.8% in the third quarter. Teacher Retirement System of Texas now owns 67,737 shares of the company’s stock worth $2,160,000 after buying an additional 13,874 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Elanco Animal Health by 128.0% in the third quarter. Alliancebernstein L.P. now owns 576,982 shares of the company’s stock worth $18,400,000 after buying an additional 323,873 shares during the last quarter. Finally, Creative Planning raised its holdings in shares of Elanco Animal Health by 7.0% in the third quarter. Creative Planning now owns 35,091 shares of the company’s stock worth $1,119,000 after buying an additional 2,302 shares during the last quarter.

NYSE:ELAN opened at $23.35 on Thursday. The company’s 50-day moving average price is $25.59 and its 200-day moving average price is $27.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.44 and a quick ratio of 1.41. Elanco Animal Health Incorporated has a twelve month low of $20.51 and a twelve month high of $37.49.

Elanco Animal Health (NYSE:ELAN – Get Rating) last issued its earnings results on Monday, May 9th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Elanco Animal Health had a negative net margin of 7.65% and a positive return on equity of 6.61%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm earned $0.37 earnings per share. Elanco Animal Health’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, research analysts expect that Elanco Animal Health Incorporated will post 1.17 earnings per share for the current year.

A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Elanco Animal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. Barclays increased their price objective on shares of Elanco Animal Health from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, February 28th. Finally, Morgan Stanley cut their price objective on shares of Elanco Animal Health to $37.00 and set an “overweight” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.40.

In related news, Director R David Hoover purchased 5,000 shares of Elanco Animal Health stock in a transaction dated Tuesday, March 1st. The shares were acquired at an average cost of $28.66 per share, with a total value of $143,300.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John P. Bilbrey purchased 10,000 shares of Elanco Animal Health stock in a transaction dated Wednesday, May 11th. The stock was bought at an average cost of $22.03 per share, for a total transaction of $220,300.00. Following the completion of the purchase, the director now directly owns 34,222 shares in the company, valued at approximately $753,910.66. The disclosure for this purchase can be found here. 6.40% of the stock is currently owned by insiders.

About Elanco Animal Health (Get Rating)

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.

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