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.
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.
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About Elanco Animal Health
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Further Reading: 12b-1 Fees
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