Canada Pension Plan Investment Board Sells 91,900 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Canada Pension Plan Investment Board trimmed its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,043,317 shares of the company's stock after selling 91,900 shares during the quarter. Canada Pension Plan Investment Board owned 0.82% of Elanco Animal Health worth $48,965,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hillsdale Investment Management Inc. boosted its stake in shares of Elanco Animal Health by 2.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company's stock worth $524,000 after acquiring an additional 900 shares during the period. Arizona State Retirement System increased its holdings in shares of Elanco Animal Health by 0.8% in the fourth quarter. Arizona State Retirement System now owns 143,462 shares of the company's stock valued at $1,737,000 after purchasing an additional 1,166 shares during the last quarter. MTM Investment Management LLC raised its position in shares of Elanco Animal Health by 9.3% in the fourth quarter. MTM Investment Management LLC now owns 14,168 shares of the company's stock valued at $172,000 after purchasing an additional 1,200 shares during the period. Blue Trust Inc. lifted its stake in shares of Elanco Animal Health by 47.7% during the 4th 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 last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Elanco Animal Health by 95.6% in the 4th quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company's stock valued at $51,000 after acquiring an additional 2,059 shares during the period. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ELAN shares. Barclays decreased their target price on 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 decreased their price objective on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Morgan Stanley decreased their price target on 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. Stifel Nicolaus cut their price target on shares of Elanco Animal Health from $15.00 to $13.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Piper Sandler lowered their price objective on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $14.67.

Insider Buying and Selling at Elanco Animal Health

In other Elanco Animal Health news, Director Lawrence Erik Kurzius purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $10.90 per share, for a total transaction of $109,000.00. Following the purchase, the director now owns 101,459 shares of the company's stock, valued at $1,105,903.10. This represents a 10.93 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.89% of the company's stock.

Elanco Animal Health Stock Up 4.8 %

NYSE ELAN traded up $0.45 during trading hours on Thursday, hitting $9.64. The company's stock had a trading volume of 1,592,583 shares, compared to its average volume of 4,942,277. The company has a market capitalization of $4.78 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44. Elanco Animal Health Incorporated has a 52 week low of $8.02 and a 52 week high of $18.80. The company's 50-day simple moving average is $10.10 and its two-hundred day simple moving average is $11.73. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 EPS 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 firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the business posted $0.08 EPS. The company's quarterly revenue was down 1.4% on a year-over-year basis. Research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal 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.