Hardman Johnston Global Advisors LLC Acquires 288,160 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Hardman Johnston Global Advisors LLC grew its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 22.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,566,430 shares of the company's stock after purchasing an additional 288,160 shares during the period. Hardman Johnston Global Advisors LLC owned about 0.32% of Elanco Animal Health worth $18,969,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. AM Squared Ltd acquired a new stake in Elanco Animal Health during the third quarter worth about $34,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Elanco Animal Health in the 3rd quarter valued at $35,000. Farther Finance Advisors LLC increased its stake in shares of Elanco Animal Health by 158.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company's stock valued at $49,000 after purchasing an additional 2,044 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Elanco Animal Health by 89.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company's stock worth $50,000 after buying an additional 1,601 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Elanco Animal Health by 2,129.2% in the third quarter. Blue Trust Inc. now owns 3,968 shares of the company's stock valued at $57,000 after acquiring an additional 3,790 shares during the last quarter. 97.48% of the stock is owned by institutional investors.

Elanco Animal Health Trading Down 1.8 %

Shares of ELAN stock traded down $0.21 during mid-day trading on Thursday, hitting $10.93. The company's stock had a trading volume of 3,696,771 shares, compared to its average volume of 4,908,907. The company has a market cap of $5.40 billion, a PE ratio of 27.31, a P/E/G ratio of 2.50 and a beta of 1.42. 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 company's fifty day simple moving average is $11.72 and its 200-day simple moving average is $13.05. Elanco Animal Health Incorporated has a 52 week low of $10.20 and a 52 week high of $18.80.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.14 EPS 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 analyst estimates of $1.01 billion. During the same period in the prior year, the business earned $0.08 EPS. The company's revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ELAN shares. 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 note on Wednesday. Leerink Partners started coverage on Elanco Animal Health in a research report on Monday, December 2nd. They set a "market perform" rating and a $14.00 price objective on the stock. Morgan Stanley decreased 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. Stifel Nicolaus lowered their target price on Elanco Animal Health from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Finally, UBS Group reduced their price target on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday. One 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's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $15.57.

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.