Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,007,629 shares of the company's stock after selling 69,504 shares during the period. Bank of New York Mellon Corp owned about 0.41% of Elanco Animal Health worth $24,312,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. AM Squared Ltd purchased a new stake in shares of Elanco Animal Health in the third quarter valued at approximately $34,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Elanco Animal Health during the 3rd quarter worth $35,000. Farther Finance Advisors LLC grew its stake in shares of Elanco Animal Health by 158.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company's stock worth $49,000 after purchasing an additional 2,044 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Elanco Animal Health by 89.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company's stock valued at $50,000 after purchasing an additional 1,601 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Elanco Animal Health by 47.7% in the fourth quarter. Blue Trust Inc. now owns 5,862 shares of the company's stock valued at $71,000 after purchasing an additional 1,894 shares during the period. Hedge funds and other institutional investors own 97.48% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Leerink Partners began coverage on shares of Elanco Animal Health in a report on Monday, December 2nd. They issued a "market perform" rating and a $14.00 target price for the company. Stifel Nicolaus reduced 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. Morgan Stanley dropped their price objective on shares of Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. UBS Group cut their price objective on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Finally, Barclays lowered their target price on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating on the stock in a 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $15.17.

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius acquired 10,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $10.20 per share, for a total transaction 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 trade represents a 9.86 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is currently owned by insiders.

Elanco Animal Health Trading Down 0.7 %

ELAN traded down $0.08 during trading on Thursday, hitting $10.32. The company's stock had a trading volume of 2,718,190 shares, compared to its average volume of 4,661,552. Elanco Animal Health Incorporated has a twelve month low of $10.03 and a twelve month high of $18.80. The firm's 50 day moving average price is $11.52 and its 200-day moving average price is $12.81. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The stock has a market cap of $5.10 billion, a PE ratio of 25.79, a PEG ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN - Get Free Report) 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 return on equity of 6.78% and a net margin of 4.60%. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the company posted $0.08 earnings per share. The business's quarterly revenue was down 1.4% compared to the same quarter last year. On average, analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

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.