Vanguard Group Inc. Sells 184,506 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Vanguard Group Inc. lessened its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,760,977 shares of the company’s stock after selling 184,506 shares during the quarter. Vanguard Group Inc. owned approximately 9.86% of Elanco Animal Health worth $590,495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hillsdale Investment Management Inc. grew its position in shares of Elanco Animal Health by 2.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company’s stock valued at $524,000 after acquiring an additional 900 shares during the period. Arizona State Retirement System lifted its stake in Elanco Animal Health by 0.8% in the 4th quarter. Arizona State Retirement System now owns 143,462 shares of the company’s stock valued at $1,737,000 after purchasing an additional 1,166 shares during the last quarter. MTM Investment Management LLC grew its holdings in Elanco Animal Health by 9.3% during the fourth quarter. MTM Investment Management LLC now owns 14,168 shares of the company’s stock worth $172,000 after purchasing an additional 1,200 shares during the period. M&T Bank Corp increased its position in Elanco Animal Health by 5.9% during the third quarter. M&T Bank Corp now owns 26,407 shares of the company’s stock worth $388,000 after buying an additional 1,464 shares during the last quarter. Finally, Parkman Healthcare Partners LLC raised its stake in Elanco Animal Health by 1.4% in the third quarter. Parkman Healthcare Partners LLC now owns 127,812 shares of the company’s stock valued at $1,878,000 after buying an additional 1,770 shares during the period. 97.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ELAN. Piper Sandler decreased their target price on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. UBS Group decreased their price objective on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Barclays dropped their price objective on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. Finally, Stifel Nicolaus lowered their price target on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.17.

Elanco Animal Health Price Performance

NYSE:ELAN opened at $10.49 on Tuesday. Elanco Animal Health Incorporated has a 52 week low of $10.03 and a 52 week high of $18.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. The firm’s 50-day simple moving average is $11.20 and its 200 day simple moving average is $12.39. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Tuesday, February 25th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.08 earnings per share. As a group, sell-side analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Buying and Selling at Elanco Animal Health

In other news, Director Lawrence Erik Kurzius bought 10,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $10.20 per share, with a total value of $102,000.00. Following the acquisition, the director now directly owns 111,459 shares in the company, valued at $1,136,881.80. This represents a 9.86 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.57% of the company’s stock.

Elanco Animal Health Company Profile

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.