Bank of Montreal Can Acquires 1,252,733 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Bank of Montreal Can grew its holdings in Elanco Animal Health Incorporated (NYSE:ELANGet Rating) by 300.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,670,325 shares of the company’s stock after purchasing an additional 1,252,733 shares during the period. Bank of Montreal Can’s holdings in Elanco Animal Health were worth $47,981,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Elanco Animal Health by 5.4% in the third quarter. Wellington Management Group LLP now owns 22,947,541 shares of the company’s stock valued at $731,798,000 after purchasing an additional 1,185,038 shares during the period. Franklin Resources Inc. raised its position in shares of Elanco Animal Health by 67.3% in the third quarter. Franklin Resources Inc. now owns 11,854,595 shares of the company’s stock valued at $378,043,000 after purchasing an additional 4,769,153 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Elanco Animal Health by 4.7% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,463,851 shares of the company’s stock valued at $365,582,000 after purchasing an additional 513,789 shares during the period. Bank of New York Mellon Corp raised its position in shares of Elanco Animal Health by 58.7% in the third quarter. Bank of New York Mellon Corp now owns 6,311,585 shares of the company’s stock valued at $201,277,000 after purchasing an additional 2,334,220 shares during the period. Finally, Sculptor Capital LP bought a new stake in shares of Elanco Animal Health in the third quarter valued at approximately $138,752,000.

In other Elanco Animal Health news, Director R David Hoover acquired 5,000 shares of the stock in a transaction dated Tuesday, March 1st. The stock was purchased at an average cost of $28.66 per share, for a total transaction of $143,300.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John P. Bilbrey acquired 10,000 shares of the stock in a transaction dated Wednesday, May 11th. The stock was acquired at an average price of $22.03 per share, with a total value of $220,300.00. Following the completion of the acquisition, the director now 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 owned by insiders.

ELAN stock opened at $24.27 on Friday. 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 one year low of $20.51 and a one year high of $37.49. The stock has a market cap of $11.51 billion, a PE ratio of -32.80, a P/E/G ratio of 1.13 and a beta of 0.74. The firm has a 50 day simple moving average of $25.45 and a two-hundred day simple moving average of $27.24.

Elanco Animal Health (NYSE:ELANGet Rating) last released its quarterly 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 business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the company earned $0.37 EPS. The business’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 EPS for the current fiscal year.

ELAN has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Elanco Animal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. Barclays boosted their price objective on shares of Elanco Animal Health from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, February 28th. The Goldman Sachs Group reduced their price objective on shares of Elanco Animal Health from $37.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Morgan Stanley reduced their price objective on shares of Elanco Animal Health to $37.00 and set an “overweight” rating for the company in a research note on Tuesday, May 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $34.60.

Elanco Animal Health Company Profile (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.

Further Reading

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Institutional Ownership by Quarter for Elanco Animal Health (NYSE:ELAN)

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