Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Davidson Investment Advisors

Davidson Investment Advisors cut its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 896,866 shares of the company's stock after selling 72,520 shares during the period. Davidson Investment Advisors owned 0.18% of Elanco Animal Health worth $10,861,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ELAN. JPMorgan Chase & Co. grew its position in shares of Elanco Animal Health by 76.6% during the third quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company's stock worth $147,747,000 after acquiring an additional 4,361,799 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Elanco Animal Health during the third quarter worth approximately $19,708,000. Assenagon Asset Management S.A. grew its position in shares of Elanco Animal Health by 363.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company's stock worth $22,748,000 after acquiring an additional 1,214,123 shares during the last quarter. Private Management Group Inc. grew its position in shares of Elanco Animal Health by 63.4% during the fourth quarter. Private Management Group Inc. now owns 2,357,142 shares of the company's stock worth $28,545,000 after acquiring an additional 914,808 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of Elanco Animal Health during the third quarter worth approximately $9,969,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Elanco Animal Health Price Performance

Elanco Animal Health stock traded down $0.11 during midday trading on Friday, reaching $11.02. The company's stock had a trading volume of 7,323,373 shares, compared to its average volume of 4,641,289. Elanco Animal Health Incorporated has a fifty-two week low of $10.77 and a fifty-two week high of $18.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. The stock's 50 day simple moving average is $11.80 and its 200 day simple moving average is $13.09. The firm has a market capitalization of $5.45 billion, a PE ratio of 27.54, a P/E/G ratio of 2.50 and a beta of 1.42.

Analysts Set New Price Targets

ELAN has been the topic of a number of research reports. Barclays raised their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Leerink Partnrs raised Elanco Animal Health to a "hold" rating in a report on Monday, December 2nd. Leerink Partners began coverage on Elanco Animal Health in a report on Monday, December 2nd. They set a "market perform" rating and a $14.00 price target for the company. UBS Group began coverage on Elanco Animal Health in a report on Monday, December 9th. They set a "buy" rating and a $18.00 price target for the company. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued 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 $16.00.

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.