Fmr LLC Purchases 37,022,891 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

FMR LLC lifted its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 1,153.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,232,327 shares of the company's stock after buying an additional 37,022,891 shares during the period. FMR LLC owned about 8.14% of Elanco Animal Health worth $487,213,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Magnetar Financial LLC raised its position in shares of Elanco Animal Health by 13.7% in the 4th quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company's stock worth $145,711,000 after acquiring an additional 1,454,082 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Elanco Animal Health by 76.6% during the third 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 in the last quarter. State Street Corp grew its position in Elanco Animal Health by 2.6% in the third quarter. State Street Corp now owns 9,912,693 shares of the company's stock worth $145,617,000 after acquiring an additional 255,084 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Elanco Animal Health by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 8,180,840 shares of the company's stock worth $99,102,000 after purchasing an additional 312,165 shares during the period. Finally, Brandes Investment Partners LP boosted its position in shares of Elanco Animal Health by 66.9% during the fourth quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company's stock valued at $69,405,000 after buying an additional 2,296,691 shares during the period. Institutional investors own 97.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays decreased their target price on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. UBS Group reduced their target price on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Morgan Stanley cut their price objective on shares of 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. Piper Sandler cut 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 report on Thursday, March 6th. Finally, Stifel Nicolaus decreased 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 note on Monday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $14.67.

Elanco Animal Health Trading Down 2.5 %

NYSE:ELAN traded down $0.22 on Tuesday, reaching $8.47. The stock had a trading volume of 1,130,330 shares, compared to its average volume of 4,885,548. Elanco Animal Health Incorporated has a 12-month low of $8.03 and a 12-month high of $18.80. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 21.14, a P/E/G ratio of 2.50 and a beta of 1.44. The firm's fifty day moving average is $10.52 and its two-hundred day moving average is $11.98. 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 (NYSE:ELAN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. Elanco Animal Health's revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.08 EPS. Equities analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling

In other Elanco Animal Health news, Director Lawrence Erik Kurzius purchased 10,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $10.20 per share, for a total transaction of $102,000.00. Following the completion of the transaction, the director now owns 111,459 shares in the company, valued at $1,136,881.80. This represents a 9.86 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by company insiders.

Elanco Animal Health 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.