Water Island Capital LLC bought a new position in Elanco Animal Health (NASDAQ:ELAN) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 846 shares of the company’s stock, valued at approximately $27,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of ELAN. Two Sigma Investments LP bought a new stake in shares of Elanco Animal Health during the 4th quarter valued at about $3,333,000. TrimTabs Asset Management LLC bought a new stake in shares of Elanco Animal Health during the 1st quarter valued at about $1,292,000. Chartwell Investment Partners LLC bought a new stake in shares of Elanco Animal Health during the 4th quarter valued at about $251,000. LPL Financial LLC bought a new stake in shares of Elanco Animal Health during the 3rd quarter valued at about $313,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Elanco Animal Health by 8.2% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,813,388 shares of the company’s stock valued at $57,176,000 after acquiring an additional 137,270 shares during the last quarter.
Shares of NASDAQ ELAN traded up $0.79 during trading hours on Thursday, reaching $33.39. 1,576,857 shares of the stock traded hands, compared to its average volume of 7,803,570. Elanco Animal Health has a 52-week low of $28.00 and a 52-week high of $37.61.
A number of analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Elanco Animal Health from $32.00 to $35.00 and gave the company a “market perform” rating in a research report on Friday, May 10th. UBS Group assumed coverage on Elanco Animal Health in a research report on Wednesday, March 20th. They set a “sell” rating and a $28.00 price target for the company. Zacks Investment Research upgraded Elanco Animal Health from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Tuesday, March 26th. Morgan Stanley assumed coverage on Elanco Animal Health in a research report on Wednesday, March 13th. They set an “equal weight” rating and a $34.00 price target for the company. Finally, Bank of America upgraded Elanco Animal Health from a “neutral” rating to a “buy” rating and set a $30.95 price target for the company in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.47.
In related news, Director R David Hoover purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were acquired at an average cost of $31.43 per share, with a total value of $628,600.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John P. Bilbrey purchased 7,750 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was bought at an average cost of $32.39 per share, for a total transaction of $251,022.50. The disclosure for this purchase can be found here.
WARNING: “Water Island Capital LLC Buys Shares of 846 Elanco Animal Health (ELAN)” was published by Slater Sentinel and is owned by of Slater Sentinel. If you are viewing this piece of content on another site, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://slatersentinel.com/news/2019/05/16/water-island-capital-llc-buys-shares-of-846-elanco-animal-health-elan.html.
Elanco Animal Health Company Profile
There is no company description available for Elanco Animal Health Inc
See Also: How a Back-End Load Mutual Fund Works
Want to see what other hedge funds are holding ELAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elanco Animal Health (NASDAQ:ELAN).
Receive News & Ratings for Elanco Animal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elanco Animal Health and related companies with MarketBeat.com's FREE daily email newsletter.