Bank of Montreal Can Has $5.35 Million Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Bank of Montreal Can grew its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 441,726 shares of the company’s stock after purchasing an additional 25,390 shares during the quarter. Bank of Montreal Can owned about 0.09% of Elanco Animal Health worth $5,349,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ELAN. Wilmington Savings Fund Society FSB bought a new stake in shares of Elanco Animal Health in the 3rd quarter valued at about $35,000. Jones Financial Companies Lllp increased its position in Elanco Animal Health by 95.6% during the fourth quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company’s stock worth $51,000 after buying an additional 2,059 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in Elanco Animal Health by 221.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,953 shares of the company’s stock valued at $60,000 after buying an additional 3,411 shares during the period. MRP Capital Investments LLC acquired a new stake in shares of Elanco Animal Health in the fourth quarter valued at approximately $61,000. Finally, Blue Trust Inc. boosted its stake in shares of Elanco Animal Health by 47.7% during the 4th quarter. Blue Trust Inc. now owns 5,862 shares of the company’s stock worth $71,000 after acquiring an additional 1,894 shares during the period. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Trading Up 0.8 %

ELAN stock opened at $8.69 on Tuesday. Elanco Animal Health Incorporated has a 52 week low of $8.03 and a 52 week high of $18.80. 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 company’s 50-day simple moving average is $10.52 and its 200 day simple moving average is $11.98. The company has a market capitalization of $4.31 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN) last announced 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). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the company earned $0.08 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

ELAN has been the topic of a number of research analyst reports. Piper Sandler dropped their price target 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. Stifel Nicolaus decreased their price objective on shares of Elanco Animal Health from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Monday. Morgan Stanley cut their target price 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. Barclays reduced their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, UBS Group lowered their price target on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.67.

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius bought 10,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $10.20 per share, with a total value of $102,000.00. Following the acquisition, the director now directly owns 111,459 shares in the company, valued at $1,136,881.80. This represents a 9.86 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

About Elanco Animal Health

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.