Wells Fargo & Company MN Cuts Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Wells Fargo & Company MN trimmed its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 22.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,363 shares of the company's stock after selling 65,081 shares during the period. Wells Fargo & Company MN's holdings in Elanco Animal Health were worth $2,656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Elanco Animal Health in the 3rd quarter valued at about $35,000. Jones Financial Companies Lllp raised its stake in Elanco Animal Health by 95.6% in the fourth quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company's stock valued at $51,000 after purchasing an additional 2,059 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in Elanco Animal Health by 221.2% during 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 purchased a new position in Elanco Animal Health in the 4th quarter worth approximately $61,000. Finally, Blue Trust Inc. increased its holdings in shares of Elanco Animal Health by 47.7% in 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. 97.48% of the stock is owned by hedge funds and other institutional investors.

Elanco Animal Health Stock Performance

ELAN stock traded down $0.01 on Friday, hitting $9.45. The company had a trading volume of 4,397,166 shares, compared to its average volume of 4,932,984. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 23.63, a P/E/G ratio of 2.50 and a beta of 1.44. Elanco Animal Health Incorporated has a 12-month low of $8.02 and a 12-month 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. The stock's 50-day simple moving average is $10.03 and its 200 day simple moving average is $11.62.

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). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The firm's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business earned $0.08 EPS. As a group, equities research analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Insider Activity at Elanco Animal Health

In related news, Director Lawrence Erik Kurzius purchased 10,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the acquisition, the director now owns 101,459 shares of the company's stock, valued at approximately $1,105,903.10. This represents a 10.93 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.89% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Barclays reduced their price target on shares of 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. Morgan Stanley cut their price target on shares of Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Piper Sandler dropped their target price on Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. Stifel Nicolaus decreased their price target on Elanco Animal Health from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, UBS Group dropped their price objective 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $14.67.

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.