Venturi Wealth Management LLC Boosts Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Venturi Wealth Management LLC increased its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 89.9% in the third quarter, HoldingsChannel reports. The firm owned 3,382 shares of the company’s stock after purchasing an additional 1,601 shares during the quarter. Venturi Wealth Management LLC’s holdings in Elanco Animal Health were worth $50,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Jupiter Asset Management Ltd. bought a new stake in shares of Elanco Animal Health during the 1st quarter valued at $4,956,000. Davidson Kempner Capital Management LP purchased a new stake in Elanco Animal Health in the second quarter worth about $839,000. Price T Rowe Associates Inc. MD increased its stake in shares of Elanco Animal Health by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock valued at $360,425,000 after purchasing an additional 852,281 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Elanco Animal Health during the second quarter valued at approximately $55,599,000. Finally, XTX Topco Ltd bought a new stake in shares of Elanco Animal Health in the 2nd quarter worth approximately $935,000. 97.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ELAN shares. Barclays lifted their price objective on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $17.00 to $15.00 in a research report on Thursday, September 19th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Elanco Animal Health presently has a consensus rating of “Hold” and a consensus price target of $17.14.

Elanco Animal Health Trading Down 0.4 %

Shares of NYSE:ELAN opened at $13.98 on Friday. Elanco Animal Health Incorporated has a 1 year low of $11.20 and a 1 year high of $18.80. The stock’s fifty day moving average price is $13.82 and its 200-day moving average price is $14.75. The company has a market cap of $6.91 billion, a P/E ratio of 34.95, a PEG ratio of 1.48 and a beta of 1.41. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business earned $0.18 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction dated Thursday, August 22nd. The shares were purchased at an average cost of $14.85 per share, with a total value of $51,975.00. Following the acquisition, the director now directly owns 81,094 shares of the company’s stock, valued at $1,204,245.90. This represents a 4.51 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.57% of the stock is currently owned by corporate insiders.

Elanco Animal Health 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.