Primecap Management Co. CA Cuts Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Primecap Management Co. CA cut its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,165,165 shares of the company’s stock after selling 1,410,337 shares during the period. Primecap Management Co. CA owned about 0.10% of Elanco Animal Health worth $619,610,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ELAN. Wilmington Savings Fund Society FSB purchased a new stake in shares of Elanco Animal Health during the third quarter worth approximately $35,000. Jones Financial Companies Lllp increased its stake in shares of Elanco Animal Health by 95.6% during the fourth quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company’s stock worth $51,000 after buying an additional 2,059 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of Elanco Animal Health by 221.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 4,953 shares of the company’s stock worth $60,000 after buying an additional 3,411 shares during the period. Blue Trust Inc. increased its stake in shares of Elanco Animal Health by 47.7% during the fourth quarter. Blue Trust Inc. now owns 5,862 shares of the company’s stock worth $71,000 after buying an additional 1,894 shares during the period. Finally, Spire Wealth Management increased its stake in shares of Elanco Animal Health by 107.4% during the fourth quarter. Spire Wealth Management now owns 7,776 shares of the company’s stock worth $94,000 after buying an additional 4,026 shares during the period. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays cut their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley dropped their price target on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Stifel Nicolaus dropped 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 research note on Friday, February 21st. Piper Sandler dropped their price target on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Finally, Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.17.

Insider Activity

In other news, Director Lawrence Erik Kurzius purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $10.90 per share, with a total value of $109,000.00. Following the completion of the acquisition, the director now directly owns 101,459 shares of the company’s stock, valued at approximately $1,105,903.10. This trade represents a 10.93 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Elanco Animal Health Stock Performance

Shares of ELAN opened at $10.65 on Tuesday. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The firm has a market cap of $5.27 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44. Elanco Animal Health Incorporated has a 12-month low of $10.03 and a 12-month high of $18.80. The company’s 50 day simple moving average is $11.43 and its 200-day simple moving average is $12.70.

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

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.