Proficio Capital Partners LLC Makes New $405,000 Investment in Elanco Animal Health Incorporated (NYSE:ELAN)

Proficio Capital Partners LLC purchased a new stake in Elanco Animal Health Incorporated (NYSE:ELAN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 33,460 shares of the company’s stock, valued at approximately $405,000.

Several other large investors have also modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in Elanco Animal Health by 76.6% during the third quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock valued at $147,747,000 after buying an additional 4,361,799 shares during the period. State Street Corp increased its holdings in shares of Elanco Animal Health by 2.6% in the 3rd quarter. State Street Corp now owns 9,912,693 shares of the company’s stock valued at $145,617,000 after acquiring an additional 255,084 shares during the period. Geode Capital Management LLC increased its holdings in shares of Elanco Animal Health by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock valued at $115,623,000 after acquiring an additional 65,303 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Elanco Animal Health by 6.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,385,467 shares of the company’s stock worth $93,803,000 after acquiring an additional 394,921 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Elanco Animal Health by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,687,610 shares of the company’s stock worth $56,767,000 after purchasing an additional 162,994 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius acquired 10,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $10.90 per share, with a total value of $109,000.00. Following the acquisition, the director now directly owns 101,459 shares in the company, valued at $1,105,903.10. This represents a 10.93 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ELAN has been the topic of several analyst reports. Piper Sandler cut their target price on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Morgan Stanley reduced their price objective on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Stifel Nicolaus reduced their price target on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, Leerink Partners assumed coverage on Elanco Animal Health in a research report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price objective for the company. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.17.

Elanco Animal Health Price Performance

Shares of ELAN opened at $10.69 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The company’s fifty day moving average price is $11.34 and its 200-day moving average price is $12.54. Elanco Animal Health Incorporated has a 1-year low of $10.03 and a 1-year high of $18.80. The firm has a market capitalization of $5.29 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 EPS. On average, equities research analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

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.