Elanco Animal Health Incorporated (NYSE:ELAN) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,180,840 shares of the company’s stock after acquiring an additional 312,165 shares during the period. Geode Capital Management LLC owned approximately 1.65% of Elanco Animal Health worth $99,102,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ELAN. Wilmington Savings Fund Society FSB acquired a new stake in shares of Elanco Animal Health in the third quarter worth approximately $35,000. Jones Financial Companies Lllp lifted its position in Elanco Animal Health by 95.6% during the fourth quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company’s stock valued at $51,000 after buying an additional 2,059 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in Elanco Animal Health by 221.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 4,953 shares of the company’s stock valued at $60,000 after buying an additional 3,411 shares in the last quarter. MRP Capital Investments LLC acquired a new position in Elanco Animal Health during the fourth quarter valued at approximately $61,000. Finally, Blue Trust Inc. lifted its position in Elanco Animal Health by 47.7% during the fourth quarter. Blue Trust Inc. now owns 5,862 shares of the company’s stock valued at $71,000 after buying an additional 1,894 shares in the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ELAN. Barclays reduced their price target 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. UBS Group reduced their target price on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus reduced their target price on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Piper Sandler reduced their target price on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Finally, Morgan Stanley reduced their target price on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Elanco Animal Health presently has a consensus rating of “Hold” and an average target price of $15.17.

Insider Activity

In other news, Director Lawrence Erik Kurzius purchased 10,000 shares of Elanco Animal Health stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $10.90 per share, with a total value of $109,000.00. Following the completion of the acquisition, the director now owns 101,459 shares in the company, valued at $1,105,903.10. The trade was a 10.93 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Elanco Animal Health Stock Up 13.1 %

ELAN stock opened at $9.42 on Thursday. 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 $8.03 and a 1-year high of $18.80. The firm has a fifty day moving average price of $10.71 and a two-hundred day moving average price of $12.10. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. Research analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Elanco Animal Health 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.