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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELAN. Commerce Bank boosted its holdings in Elanco Animal Health by 2.2% during the third quarter. Commerce Bank now owns 35,114 shares of the company’s stock worth $516,000 after buying an additional 741 shares during the last quarter. MTM Investment Management LLC lifted its holdings in shares of Elanco Animal Health by 9.3% during the 4th quarter. MTM Investment Management LLC now owns 14,168 shares of the company’s stock valued at $172,000 after purchasing an additional 1,200 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of Elanco Animal Health by 5.9% during the 3rd quarter. M&T Bank Corp now owns 26,407 shares of the company’s stock valued at $388,000 after purchasing an additional 1,464 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Elanco Animal Health by 89.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company’s stock valued at $50,000 after purchasing an additional 1,601 shares in the last quarter. Finally, Parkman Healthcare Partners LLC raised its position in Elanco Animal Health by 1.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 127,812 shares of the company’s stock valued at $1,878,000 after buying an additional 1,770 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Morgan Stanley dropped their target price on Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Leerink Partners started coverage on Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price target for the company. Stifel Nicolaus reduced their price target on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Barclays reduced their price target on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler cut their target price on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Elanco Animal Health has an average rating of “Hold” and an average price target of $15.17.

Elanco Animal Health Price Performance

Elanco Animal Health stock opened at $10.83 on Tuesday. Elanco Animal Health Incorporated has a 52 week low of $10.20 and a 52 week high of $18.80. The stock has a fifty day moving average of $11.60 and a 200-day moving average of $12.86. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. The stock has a market capitalization of $5.35 billion, a P/E ratio of 27.06, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The firm had revenue of $1.02 billion during 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%. Elanco Animal Health’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 EPS. On average, sell-side analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

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.