Parsons Capital Management Inc. RI Purchases 1,434 Shares of Elanco Animal Health (NASDAQ:ELAN)

Parsons Capital Management Inc. RI lifted its position in Elanco Animal Health (NASDAQ:ELAN) by 10.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,900 shares of the company’s stock after acquiring an additional 1,434 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Elanco Animal Health were worth $504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELAN. Bank of New York Mellon Corp bought a new stake in Elanco Animal Health in the fourth quarter worth $2,213,000. Bank of America Corp DE lifted its position in Elanco Animal Health by 131.9% during the 4th quarter. Bank of America Corp DE now owns 29,371 shares of the company’s stock worth $927,000 after acquiring an additional 16,705 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in Elanco Animal Health during the 4th quarter worth $112,000. Legal & General Group Plc lifted its position in Elanco Animal Health by 186.8% during the 4th quarter. Legal & General Group Plc now owns 68,836 shares of the company’s stock worth $2,170,000 after acquiring an additional 44,836 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new position in Elanco Animal Health during the 4th quarter worth $18,592,000.

Elanco Animal Health stock traded up $0.25 during trading hours on Friday, hitting $29.44. 12,922 shares of the stock were exchanged, compared to its average volume of 5,794,491. Elanco Animal Health has a 12 month low of $28.00 and a 12 month high of $37.61. The business’s 50-day moving average is $32.86 and its two-hundred day moving average is $31.93.

Elanco Animal Health (NASDAQ:ELAN) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The company had revenue of $781.60 million for the quarter, compared to the consensus estimate of $781.49 million. Elanco Animal Health’s quarterly revenue was up 1.5% compared to the same quarter last year.

A number of research analysts have recently commented on ELAN shares. UBS Group raised shares of Elanco Animal Health from a “sell” rating to a “neutral” rating and cut their price objective for the company from $31.00 to $30.00 in a research report on Thursday. BMO Capital Markets upped their target price on shares of Elanco Animal Health from $32.00 to $35.00 and gave the company a “market perform” rating in a research note on Friday, May 10th. Zacks Investment Research cut shares of Elanco Animal Health from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, Guggenheim began coverage on shares of Elanco Animal Health in a research note on Wednesday, May 22nd. They issued a “neutral” rating on the stock. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $33.72.

Elanco Animal Health Company Profile

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

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