Linscomb & Williams Inc. Raises Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Linscomb & Williams Inc. raised its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,631 shares of the company’s stock after purchasing an additional 4,000 shares during the quarter. Linscomb & Williams Inc.’s holdings in Elanco Animal Health were worth $1,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ELAN. Acadian Asset Management LLC bought a new position in Elanco Animal Health during the third quarter valued at $95,000. HBK Sorce Advisory LLC purchased a new stake in Elanco Animal Health in the fourth quarter worth $169,000. C M Bidwell & Associates Ltd. purchased a new stake in Elanco Animal Health in the third quarter worth $129,000. Allspring Global Investments Holdings LLC increased its position in Elanco Animal Health by 10.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,123 shares of the company’s stock worth $181,000 after buying an additional 1,127 shares during the last quarter. Finally, Innovis Asset Management LLC purchased a new stake in Elanco Animal Health in the third quarter worth $144,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director William F. Doyle bought 15,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was bought at an average price of $16.98 per share, with a total value of $254,700.00. Following the purchase, the director now owns 76,330 shares in the company, valued at approximately $1,296,083.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Elanco Animal Health news, Director R David Hoover purchased 20,000 shares of Elanco Animal Health stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $16.14 per share, for a total transaction of $322,800.00. Following the acquisition, the director now directly owns 185,000 shares in the company, valued at $2,985,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William F. Doyle purchased 15,000 shares of Elanco Animal Health stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average price of $16.98 per share, for a total transaction of $254,700.00. Following the acquisition, the director now owns 76,330 shares in the company, valued at $1,296,083.40. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ELAN. TheStreet raised Elanco Animal Health from a “d+” rating to a “c-” rating in a research report on Friday, February 23rd. The Goldman Sachs Group lifted their price target on Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a research report on Tuesday, February 27th. Piper Sandler reissued a “neutral” rating and set a $19.00 price objective (up previously from $18.00) on shares of Elanco Animal Health in a research note on Monday, May 13th. Barclays lifted their price objective on Elanco Animal Health from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Finally, Morgan Stanley lifted their price objective on Elanco Animal Health from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Elanco Animal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.29.

Elanco Animal Health Price Performance

ELAN stock traded up $0.30 during mid-day trading on Friday, hitting $16.79. 3,042,322 shares of the stock were exchanged, compared to its average volume of 4,969,919. Elanco Animal Health Incorporated has a 12 month low of $7.88 and a 12 month high of $17.43. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.29 and a quick ratio of 1.96. The business has a fifty day moving average price of $15.20 and a 200 day moving average price of $14.69. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of -6.34, a PEG ratio of 1.59 and a beta of 1.34.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the company posted $0.45 EPS. Elanco Animal Health’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.93 EPS for the current year.

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.