Water Island Capital LLC Buys Shares of 846 Elanco Animal Health (ELAN)

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.

Elanco Animal Health (NASDAQ:ELAN) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. The firm had revenue of $731.10 million for the quarter, compared to analysts’ expectations of $743.40 million. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share.

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.

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Elanco Animal Health Company Profile

There is no company description available for Elanco Animal Health Inc

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Institutional Ownership by Quarter for Elanco Animal Health (NASDAQ:ELAN)

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