Parsons Capital Management Inc. RI Buys New Position in Elanco Animal Health (ELAN)

Parsons Capital Management Inc. RI bought a new stake in Elanco Animal Health (NASDAQ:ELAN) in the first quarter, Holdings Channel reports. The fund bought 13,466 shares of the company’s stock, valued at approximately $432,000.

A number of other hedge funds also recently modified their holdings of ELAN. Ropes Wealth Advisors LLC acquired a new position in shares of Elanco Animal Health during the first quarter worth approximately $25,000. Focused Wealth Management Inc acquired a new position in shares of Elanco Animal Health during the fourth quarter worth approximately $32,000. First Hawaiian Bank acquired a new position in shares of Elanco Animal Health during the fourth quarter worth approximately $35,000. American International Group Inc. acquired a new position in shares of Elanco Animal Health during the fourth quarter worth approximately $48,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Elanco Animal Health during the first quarter worth approximately $58,000.

Several equities analysts have recently issued reports on ELAN shares. Zacks Investment Research downgraded Elanco Animal Health from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. UBS Group started coverage on Elanco Animal Health in a report on Wednesday, January 23rd. They set a “sell” rating and a $29.00 target price on the stock. Argus started coverage on Elanco Animal Health in a report on Tuesday, January 15th. They set a “buy” rating and a $37.00 target price on the stock. Bank of America raised Elanco Animal Health from a “neutral” rating to a “buy” rating and set a $30.95 target price on the stock in a report on Monday, March 18th. Finally, Morgan Stanley started coverage on Elanco Animal Health in a report on Wednesday, March 13th. They set an “equal weight” rating and a $34.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $33.22.

In related news, Director R David Hoover purchased 20,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were bought at an average price of $31.43 per share, with a total value of $628,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of NASDAQ:ELAN opened at $32.72 on Monday. Elanco Animal Health has a 12 month low of $28.00 and a 12 month high of $37.61.

Elanco Animal Health (NASDAQ:ELAN) last announced its earnings results on Wednesday, February 6th. The company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.03. The firm had revenue of $799.30 million for the quarter, compared to the consensus estimate of $804.07 million. During the same period in the previous year, the firm earned $0.12 EPS. Elanco Animal Health’s revenue for the quarter was up 6.0% on a year-over-year basis.

ILLEGAL ACTIVITY NOTICE: This story was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The legal version of this story can be read at https://sportsperspectives.com/2019/04/29/parsons-capital-management-inc-ri-buys-new-position-in-elanco-animal-health-elan.html.

About Elanco Animal Health

There is no company description available for Elanco Animal Health Inc

Further Reading: 12b-1 Fees

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).

Institutional Ownership by Quarter 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.