Picton Mahoney Asset Management Acquires New Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Picton Mahoney Asset Management acquired a new stake in Elanco Animal Health Incorporated (NYSE:ELAN) during the fourth quarter, Holdings Channel.com reports. The fund acquired 265,270 shares of the company’s stock, valued at approximately $3,952,000.

A number of other hedge funds have also added to or reduced their stakes in ELAN. Raymond James & Associates grew its stake in shares of Elanco Animal Health by 210.9% during the third quarter. Raymond James & Associates now owns 1,015,294 shares of the company’s stock worth $11,412,000 after buying an additional 688,779 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Elanco Animal Health by 76.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 206,210 shares of the company’s stock worth $2,318,000 after buying an additional 89,576 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Elanco Animal Health by 7.2% during the third quarter. Bank of New York Mellon Corp now owns 1,848,934 shares of the company’s stock worth $20,782,000 after buying an additional 124,225 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Elanco Animal Health by 25.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,553 shares of the company’s stock worth $1,096,000 after purchasing an additional 20,053 shares during the last quarter. Finally, Advisor Partners II LLC grew its stake in shares of Elanco Animal Health by 409.4% in the third quarter. Advisor Partners II LLC now owns 78,899 shares of the company’s stock worth $887,000 after purchasing an additional 63,411 shares during the last quarter. 97.48% of the stock is owned by institutional investors.

Elanco Animal Health Stock Up 24.9 %

Shares of NYSE ELAN traded up $3.36 during trading on Wednesday, hitting $16.88. 19,728,918 shares of the company traded hands, compared to its average volume of 4,553,548. The business’s fifty day moving average is $14.96 and its 200 day moving average is $14.02. Elanco Animal Health Incorporated has a fifty-two week low of $7.88 and a fifty-two week high of $17.23. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of -6.76, a P/E/G ratio of 1.42 and a beta of 1.34. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.75.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). Elanco Animal Health had a negative net margin of 27.87% and a positive return on equity of 6.44%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the company posted $0.19 EPS. Elanco Animal Health’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ELAN shares. Morgan Stanley boosted their price objective on shares of Elanco Animal Health from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group boosted their target price on shares of Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a report on Tuesday, February 27th. Barclays boosted their target price on shares of Elanco Animal Health from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Finally, TheStreet upgraded shares of Elanco Animal Health from a “d+” rating to a “c-” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Elanco Animal Health has a consensus rating of “Moderate Buy” and an average target price of $16.71.

Insider Activity

In related news, Director R David Hoover acquired 20,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $16.14 per share, for a total transaction of $322,800.00. Following the completion of the acquisition, the director now owns 185,000 shares of the company’s stock, valued at $2,985,900. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.57% of the company’s stock.

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.