Quadrature Capital Ltd Buys Shares of 34,541 Elanco Animal Health Incorporated (NYSE:ELAN)

Posted by Defense World Staff on Mar 12th, 2023

Quadrature Capital Ltd purchased a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 34,541 shares of the company’s stock, valued at approximately $428,000.

A number of other hedge funds have also made changes to their positions in ELAN. KB Financial Partners LLC boosted its position in Elanco Animal Health by 8.2% during the first quarter. KB Financial Partners LLC now owns 8,709 shares of the company’s stock worth $227,000 after purchasing an additional 658 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Elanco Animal Health by 1.3% during the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 55,200 shares of the company’s stock worth $1,084,000 after buying an additional 700 shares during the period. Bfsg LLC grew its stake in Elanco Animal Health by 5.9% in the 3rd quarter. Bfsg LLC now owns 14,826 shares of the company’s stock valued at $184,000 after buying an additional 820 shares during the last quarter. Captrust Financial Advisors grew its stake in Elanco Animal Health by 57.0% in the 1st quarter. Captrust Financial Advisors now owns 2,690 shares of the company’s stock valued at $70,000 after buying an additional 977 shares during the last quarter. Finally, Ensign Peak Advisors Inc raised its holdings in Elanco Animal Health by 1.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 106,000 shares of the company’s stock worth $2,080,000 after acquiring an additional 1,200 shares during the period.

Elanco Animal Health Trading Down 5.3 %

Shares of ELAN opened at $9.57 on Friday. The stock’s 50-day moving average price is $12.63 and its 200 day moving average price is $12.92. The company has a quick ratio of 1.02, a current ratio of 1.93 and a debt-to-equity ratio of 0.75. Elanco Animal Health Incorporated has a 12-month low of $9.40 and a 12-month high of $27.68. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of -63.80, a P/E/G ratio of 6.91 and a beta of 0.95.

Elanco Animal Health (NYSE:ELAN – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The business had revenue of $988.00 million for the quarter, compared to analysts’ expectations of $980.94 million. Elanco Animal Health had a positive return on equity of 7.57% and a negative net margin of 1.74%. Elanco Animal Health’s quarterly revenue was down 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. As a group, research analysts predict that Elanco Animal Health Incorporated will post 0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ELAN. Morgan Stanley lowered their price target on Elanco Animal Health from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, January 30th. Barclays decreased their target price on Elanco Animal Health from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 22nd. Finally, Piper Sandler dropped their price target on Elanco Animal Health from $15.00 to $12.00 in a research report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.50.

Insider Activity

In other Elanco Animal Health news, Director R David Hoover bought 10,000 shares of the firm’s stock in a transaction dated Friday, March 3rd. The shares were acquired at an average cost of $11.13 per share, for a total transaction of $111,300.00. Following the transaction, the director now owns 155,000 shares in the company, valued at $1,725,150. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.40% of the company’s stock.

Elanco Animal Health Company Profile

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Elanco Animal Health, Inc innovates, develops, manufactures, and markets products for pets and farm animals. It offers products through the following four categories: Companion Animal Disease Prevention, Companion Animal Therapeutics, Food Animal Future Protein & Health, and Food Animal Ruminants & Swine.