Invesco Ltd. Buys 51,233 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Invesco Ltd. boosted its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 536,391 shares of the company's stock after purchasing an additional 51,233 shares during the period. Invesco Ltd. owned about 0.11% of Elanco Animal Health worth $6,496,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ELAN. Wilmington Savings Fund Society FSB acquired a new stake in shares of Elanco Animal Health in the third quarter valued at approximately $35,000. 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. SRS Capital Advisors Inc. grew its position in shares of Elanco Animal Health by 221.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,953 shares of the company's stock valued at $60,000 after purchasing an additional 3,411 shares during the last quarter. MRP Capital Investments LLC bought a new position in shares of Elanco Animal Health during the fourth quarter worth approximately $61,000. Finally, Blue Trust Inc. lifted its holdings in 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 purchasing an additional 1,894 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company's stock.

Elanco Animal Health Price Performance

NYSE ELAN traded up $0.25 on Tuesday, hitting $9.76. 6,441,241 shares of the company's stock were exchanged, compared to its average volume of 4,940,238. The stock has a 50-day moving average of $10.00 and a 200-day moving average of $11.58. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 24.39, a P/E/G 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 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 announced 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). 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 the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company earned $0.08 earnings per share. Elanco Animal Health's quarterly revenue was down 1.4% compared to the same quarter last year. Analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Activity at Elanco Animal Health

In other news, Director Lawrence Erik Kurzius purchased 10,000 shares of Elanco Animal Health 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 completion of the acquisition, the director now owns 111,459 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on ELAN. 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. Stifel Nicolaus lowered their price target on shares of Elanco Animal Health from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Morgan Stanley cut 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 report on Wednesday, February 26th. Piper Sandler lowered 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 report on Thursday, March 6th. Finally, Barclays cut their price target on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Four equities research 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, the stock presently has a consensus rating of "Hold" and a consensus price target of $14.67.

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.