Perella Weinberg Partners Capital Management LP Makes New $4.38 Million Investment in Elanco Animal Health (NASDAQ:ELAN)

Perella Weinberg Partners Capital Management LP purchased a new position in shares of Elanco Animal Health (NASDAQ:ELAN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 129,496 shares of the company’s stock, valued at approximately $4,377,000.

A number of other large investors have also modified their holdings of the business. Sterling Investment Advisors Ltd. acquired a new position in shares of Elanco Animal Health during the first quarter worth about $25,000. Ropes Wealth Advisors LLC acquired a new position in shares of Elanco Animal Health during the first quarter worth about $25,000. Water Island Capital LLC acquired a new position in shares of Elanco Animal Health during the first quarter worth about $27,000. FTB Advisors Inc. acquired a new position in shares of Elanco Animal Health during the first quarter worth about $29,000. Finally, Valeo Financial Advisors LLC grew its position in shares of Elanco Animal Health by 376.7% during the second quarter. Valeo Financial Advisors LLC now owns 1,430 shares of the company’s stock worth $48,000 after buying an additional 1,130 shares in the last quarter.

ELAN traded down $0.17 on Friday, reaching $32.89. The company’s stock had a trading volume of 1,145,614 shares, compared to its average volume of 5,888,815. The business has a 50 day simple moving average of $33.37. Elanco Animal Health has a fifty-two week low of $28.00 and a fifty-two week high of $37.61.

Elanco Animal Health (NASDAQ:ELAN) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. The business had revenue of $731.10 million during the quarter, compared to analyst estimates of $743.40 million. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share.

A number of equities analysts have recently commented on ELAN shares. BMO Capital Markets boosted their price objective on Elanco Animal Health from $32.00 to $35.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th. Guggenheim started coverage on Elanco Animal Health in a research report on Wednesday, May 22nd. They set a “neutral” rating for the company. Finally, Zacks Investment Research downgraded Elanco Animal Health from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $33.56.

In other Elanco Animal Health news, Director John P. Bilbrey purchased 7,750 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average cost of $32.39 per share, with a total value of $251,022.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Elanco Animal Health Profile

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

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