Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Davidson Investment Advisors

Davidson Investment Advisors decreased its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 7.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 896,866 shares of the company’s stock after selling 72,520 shares during the quarter. Davidson Investment Advisors owned about 0.18% of Elanco Animal Health worth $10,861,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Elanco Animal Health by 0.8% in the third quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock valued at $115,623,000 after buying an additional 65,303 shares during the last quarter. Atom Investors LP raised its holdings in Elanco Animal Health by 310.3% in the 3rd quarter. Atom Investors LP now owns 345,855 shares of the company’s stock valued at $5,081,000 after acquiring an additional 261,559 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Elanco Animal Health by 24.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,084,629 shares of the company’s stock valued at $13,135,000 after acquiring an additional 209,734 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Elanco Animal Health by 19.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock worth $58,875,000 after purchasing an additional 646,522 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Elanco Animal Health by 14.0% during the third quarter. Franklin Resources Inc. now owns 372,230 shares of the company’s stock worth $5,349,000 after purchasing an additional 45,795 shares during the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Elanco Animal Health Price Performance

Shares of NYSE ELAN opened at $11.26 on Tuesday. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 2.69 and a beta of 1.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. Elanco Animal Health Incorporated has a 1-year low of $10.77 and a 1-year high of $18.80. The business has a 50-day moving average of $11.90 and a 200-day moving average of $13.13.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ELAN shares. UBS Group assumed coverage on Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 target price on the stock. Barclays increased their price objective on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Stifel Nicolaus lowered their target price on shares of Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Morgan Stanley dropped their price target on shares of Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, Leerink Partners initiated coverage on shares of Elanco Animal Health in a report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.29.

About Elanco Animal Health

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.