Brandes Investment Partners LP Boosts Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Brandes Investment Partners LP increased its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 66.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,731,180 shares of the company's stock after purchasing an additional 2,296,691 shares during the quarter. Brandes Investment Partners LP owned approximately 1.16% of Elanco Animal Health worth $69,405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in Elanco Animal Health by 76.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company's stock worth $147,747,000 after purchasing an additional 4,361,799 shares in the last quarter. State Street Corp increased its position 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 in the last quarter. Geode Capital Management LLC increased 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 in the last quarter. The Manufacturers Life Insurance Company increased its position in Elanco Animal Health by 6.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,385,467 shares of the company's stock worth $93,803,000 after purchasing an additional 394,921 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Elanco Animal Health by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,687,610 shares of the company's stock worth $56,767,000 after purchasing an additional 162,994 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company's stock.

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Elanco Animal Health Trading Up 0.3 %

Shares of NYSE ELAN traded up $0.04 during midday trading on Wednesday, hitting $10.85. The stock had a trading volume of 3,492,565 shares, compared to its average volume of 4,657,055. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 2.50 and a beta of 1.44. Elanco Animal Health Incorporated has a 1-year low of $10.03 and a 1-year high of $18.80. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average price of $11.41 and a 200 day moving average price of $12.67.

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 for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business's revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 earnings per share. On average, analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Activity at Elanco Animal Health

In related news, Director Lawrence Erik Kurzius bought 10,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $10.90 per share, for a total transaction of $109,000.00. Following the acquisition, the director now owns 101,459 shares in the company, valued at $1,105,903.10. This represents a 10.93 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. UBS Group decreased their price target on 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. Stifel Nicolaus decreased their price target on 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 decreased their price target on 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. Barclays decreased their price target on 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. Finally, 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 note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $15.17.

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.