Penn Capital Management Co. Inc. Has $5.29 Million Holdings in Elanco Animal Health (ELAN)

Penn Capital Management Co. Inc. grew its position in Elanco Animal Health (NASDAQ:ELAN) by 19.3% during the 1st quarter, Holdings Channel reports. The firm owned 55,789 shares of the company’s stock after purchasing an additional 9,041 shares during the period. Penn Capital Management Co. Inc.’s holdings in Elanco Animal Health were worth $5,292,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sterling Investment Advisors Ltd. purchased a new position in Elanco Animal Health in the first quarter worth $25,000. Ropes Wealth Advisors LLC purchased a new position in Elanco Animal Health in the first quarter worth $25,000. FTB Advisors Inc. purchased a new position in Elanco Animal Health in the first quarter worth $29,000. Krensavage Asset Management LLC grew its holdings in Elanco Animal Health by 0.5% in the fourth quarter. Krensavage Asset Management LLC now owns 200,967 shares of the company’s stock worth $6,336,000 after purchasing an additional 967 shares during the last quarter. Finally, Focused Wealth Management Inc purchased a new position in Elanco Animal Health in the fourth quarter worth $32,000.

Several research firms have issued reports on ELAN. BMO Capital Markets lifted their price target on shares of Elanco Animal Health from $32.00 to $35.00 and gave the stock a “market perform” rating in a report on Friday, May 10th. UBS Group initiated coverage on shares of Elanco Animal Health in a report on Wednesday, March 20th. They issued a “sell” rating and a $28.00 price target on the stock. Zacks Investment Research raised shares of Elanco Animal Health from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Tuesday, March 26th. Morgan Stanley initiated coverage on shares of Elanco Animal Health in a report on Wednesday, March 13th. They set an “equal weight” rating and a $34.00 price objective on the stock. Finally, Bank of America raised shares of Elanco Animal Health from a “neutral” rating to a “buy” rating and set a $30.95 price objective on the stock in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.47.

In other Elanco Animal Health news, Director John P. Bilbrey bought 7,750 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R David Hoover bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired at an average price of $31.43 per share, with a total value of $628,600.00. The disclosure for this purchase can be found here.

Shares of ELAN opened at $33.34 on Thursday. Elanco Animal Health has a 1-year low of $28.00 and a 1-year 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 analysts’ consensus estimates of $0.22 by $0.03. The company had revenue of $731.10 million for the quarter, compared to analysts’ expectations of $743.40 million. Elanco Animal Health’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the firm earned $0.33 earnings per share.

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About Elanco Animal Health

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

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