Centiva Capital LP Buys Shares of 98,092 Elanco Animal Health Incorporated (NYSE:ELAN)

Centiva Capital LP acquired a new stake in Elanco Animal Health Incorporated (NYSE:ELAN) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 98,092 shares of the company’s stock, valued at approximately $1,188,000.

Several other hedge funds also recently made changes to their positions in ELAN. FMR LLC increased its holdings in Elanco Animal Health by 1,153.6% during the 4th quarter. FMR LLC now owns 40,232,327 shares of the company’s stock worth $487,213,000 after acquiring an additional 37,022,891 shares during the period. Norges Bank purchased a new stake in shares of Elanco Animal Health in the fourth quarter worth $47,424,000. Brandes Investment Partners LP boosted its stake in Elanco Animal Health by 66.9% during the fourth quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company’s stock valued at $69,405,000 after buying an additional 2,296,691 shares during the period. Freestone Grove Partners LP purchased a new position in Elanco Animal Health during the fourth quarter worth about $20,396,000. Finally, Magnetar Financial LLC increased its stake in Elanco Animal Health by 13.7% in the 4th quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company’s stock worth $145,711,000 after acquiring an additional 1,454,082 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Elanco Animal Health Stock Performance

NYSE ELAN opened at $12.05 on Thursday. The company has a 50-day simple moving average of $9.84 and a two-hundred day simple moving average of $11.44. Elanco Animal Health Incorporated has a 12-month low of $8.02 and a 12-month high of $18.80. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 2.50 and a beta of 1.49. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Wednesday, May 7th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.06. 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 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share. On average, equities analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ELAN. Stifel Nicolaus cut their price objective on Elanco Animal Health from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday, April 14th. UBS Group decreased 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. Morgan Stanley dropped 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 report on Wednesday, February 26th. Piper Sandler reduced 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. Finally, Barclays cut their price objective on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.67.

Insider Buying and Selling

In other Elanco Animal Health news, Director Lawrence Erik Kurzius purchased 10,000 shares of Elanco Animal Health stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $10.20 per share, for a total transaction of $102,000.00. Following the acquisition, the director now directly owns 111,459 shares in the company, valued at approximately $1,136,881.80. This trade represents a 9.86 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.89% of the stock is owned by insiders.

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.