California Public Employees Retirement System Reduces Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

California Public Employees Retirement System cut its stake in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 801,637 shares of the company's stock after selling 46,454 shares during the period. California Public Employees Retirement System owned about 0.16% of Elanco Animal Health worth $9,708,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ELAN. Magnetar Financial LLC boosted its holdings in shares of Elanco Animal Health by 13.7% in the fourth quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company's stock valued at $145,711,000 after acquiring an additional 1,454,082 shares during the period. JPMorgan Chase & Co. raised its position in Elanco Animal Health by 76.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company's stock valued at $147,747,000 after purchasing an additional 4,361,799 shares during the last quarter. State Street Corp boosted its stake in Elanco Animal Health by 2.6% during the 3rd quarter. State Street Corp now owns 9,912,693 shares of the company's stock worth $145,617,000 after purchasing an additional 255,084 shares during the period. Geode Capital Management LLC grew its position in Elanco Animal Health by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company's stock worth $115,623,000 after purchasing an additional 65,303 shares during the last quarter. Finally, Brandes Investment Partners LP increased its stake in Elanco Animal Health by 66.9% in the fourth quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company's stock valued at $69,405,000 after purchasing an additional 2,296,691 shares during the period. Institutional investors and hedge funds own 97.48% of the company's stock.

Elanco Animal Health Stock Performance

Shares of ELAN stock traded down $0.07 during trading hours on Friday, reaching $8.64. 5,847,865 shares of the company's stock were exchanged, compared to its average volume of 4,897,100. 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 company has a market cap of $4.29 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44. The company's 50 day moving average is $10.59 and its two-hundred day moving average is $12.03.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company's revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. Equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ELAN shares. Piper Sandler decreased their target price on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Morgan Stanley decreased their price objective on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Barclays dropped 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. Stifel Nicolaus decreased their price target on Elanco Animal Health from $18.00 to $16.00 and set a "buy" rating for the company in a report on Friday, February 21st. Finally, UBS Group dropped 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 research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $15.17.

Insider Activity at Elanco Animal Health

In other news, Director Lawrence Erik Kurzius acquired 10,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $10.20 per share, with a total value of $102,000.00. Following the purchase, the director now directly owns 111,459 shares of the company's stock, valued at approximately $1,136,881.80. This trade represents a 9.86 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.