Elanco Animal Health Incorporated (NYSE:ELAN) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,868,675 shares of the company's stock after buying an additional 65,303 shares during the period. Geode Capital Management LLC owned 1.59% of Elanco Animal Health worth $115,623,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Atom Investors LP boosted its stake in Elanco Animal Health by 310.3% in the 3rd quarter. Atom Investors LP now owns 345,855 shares of the company's stock worth $5,081,000 after buying an additional 261,559 shares during the last quarter. Davidson Kempner Capital Management LP acquired a new stake in Elanco Animal Health in the 2nd quarter worth about $839,000. Wellington Management Group LLP boosted its stake in Elanco Animal Health by 19.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company's stock worth $58,875,000 after buying an additional 646,522 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Elanco Animal Health in the 3rd quarter worth about $925,000. Finally, XTX Topco Ltd acquired a new stake in Elanco Animal Health in the 2nd quarter worth about $935,000. 97.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on ELAN. Barclays raised their price target on Elanco Animal Health from $19.00 to $20.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Leerink Partners started coverage on Elanco Animal Health in a report on Monday, December 2nd. They issued a "market perform" rating and a $14.00 price objective on the stock. Stifel Nicolaus restated a "buy" rating and issued a $20.00 price objective on shares of Elanco Animal Health in a report on Thursday, September 19th. UBS Group started coverage on Elanco Animal Health in a report on Monday, December 9th. They issued a "buy" rating and a $18.00 price objective on the stock. Finally, Morgan Stanley downgraded Elanco Animal Health from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $17.00 to $15.00 in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $16.75.

Elanco Animal Health Stock Down 4.7 %

Shares of NYSE:ELAN traded down $0.58 during mid-day trading on Wednesday, hitting $11.73. 7,261,424 shares of the company traded hands, compared to its average volume of 4,776,101. The firm has a market cap of $5.80 billion, a P/E ratio of 29.33, a PEG ratio of 2.03 and a beta of 1.41. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. Elanco Animal Health Incorporated has a 52-week low of $11.40 and a 52-week high of $18.80. The firm's 50 day simple moving average is $13.07 and its 200 day simple moving average is $14.21.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company's revenue was down 3.6% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. On average, equities analysts anticipate that Elanco Animal Health Incorporated will post 0.92 EPS for the current year.

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.