Sound Shore Management Inc CT Buys 75,315 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Sound Shore Management Inc CT boosted its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN – Get Rating) by 1.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,131,801 shares of the company’s stock after buying an additional 75,315 shares during the quarter. Elanco Animal Health makes up approximately 2.1% of Sound Shore Management Inc CT’s investment portfolio, making the stock its 27th biggest holding. Sound Shore Management Inc CT’s holdings in Elanco Animal Health were worth $51,276,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Venture Visionary Partners LLC acquired a new stake in shares of Elanco Animal Health during the 2nd quarter valued at about $45,000. Fifth Third Bancorp lifted its holdings in shares of Elanco Animal Health by 139.6% during the second quarter. Fifth Third Bancorp now owns 2,396 shares of the company’s stock valued at $47,000 after acquiring an additional 1,396 shares during the period. CKW Financial Group boosted its stake in shares of Elanco Animal Health by 60.0% in the 2nd quarter. CKW Financial Group now owns 2,400 shares of the company’s stock valued at $49,000 after purchasing an additional 900 shares in the last quarter. Eagle Bay Advisors LLC increased its position in shares of Elanco Animal Health by 4,040.0% during the 2nd quarter. Eagle Bay Advisors LLC now owns 2,691 shares of the company’s stock worth $53,000 after purchasing an additional 2,626 shares in the last quarter. Finally, SRS Capital Advisors Inc. boosted its position in Elanco Animal Health by 689.3% in the third quarter. SRS Capital Advisors Inc. now owns 4,578 shares of the company’s stock valued at $57,000 after buying an additional 3,998 shares in the last quarter.

Insider Transactions at Elanco Animal Health

In other news, Director John P. Bilbrey bought 7,500 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The shares were acquired at an average price of $13.24 per share, with a total value of $99,300.00. Following the transaction, the director now owns 41,722 shares in the company, valued at $552,399.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on ELAN shares. William Blair reissued a “market perform” rating on shares of Elanco Animal Health in a report on Tuesday, November 8th. The Goldman Sachs Group lowered their target price on Elanco Animal Health from $19.00 to $12.00 and set a “sell” rating for the company in a research note on Wednesday, November 9th. TheStreet downgraded shares of Elanco Animal Health from a “c-” rating to a “d+” rating in a research note on Tuesday, October 4th. Morgan Stanley dropped their price objective on shares of Elanco Animal Health from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 15th. Finally, Piper Sandler lowered their target price on Elanco Animal Health from $21.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, November 14th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, Elanco Animal Health presently has an average rating of “Hold” and a consensus price target of $17.83.

Elanco Animal Health Stock Performance

ELAN stock opened at $12.83 on Wednesday. Elanco Animal Health Incorporated has a twelve month low of $11.18 and a twelve month high of $29.66. The company has a quick ratio of 1.12, a current ratio of 1.96 and a debt-to-equity ratio of 0.82. The company has a market cap of $6.08 billion, a P/E ratio of -53.96, a price-to-earnings-growth ratio of 6.63 and a beta of 0.90. The business’s fifty day moving average is $12.49 and its 200-day moving average is $14.50.

Elanco Animal Health (NYSE:ELAN – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.04. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Elanco Animal Health had a negative net margin of 2.64% and a positive return on equity of 7.65%. Equities research analysts forecast that Elanco Animal Health Incorporated will post 1.04 EPS for the current year.

About Elanco Animal Health

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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.