Elanco Animal Health Incorporated (NYSE:ELAN) Position Trimmed by Legal & General Group Plc

Legal & General Group Plc decreased its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 10.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 655,964 shares of the company's stock after selling 78,887 shares during the period. Legal & General Group Plc owned approximately 0.13% of Elanco Animal Health worth $7,944,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ELAN. Invesco Ltd. grew its stake in Elanco Animal Health by 10.6% in the 4th quarter. Invesco Ltd. now owns 536,391 shares of the company's stock valued at $6,496,000 after acquiring an additional 51,233 shares during the period. Bank of Montreal Can boosted its stake in shares of Elanco Animal Health by 6.1% in the fourth quarter. Bank of Montreal Can now owns 441,726 shares of the company's stock worth $5,349,000 after acquiring an additional 25,390 shares during the last quarter. FMR LLC grew its stake in Elanco Animal Health by 1,153.6% during the 4th quarter. FMR LLC now owns 40,232,327 shares of the company's stock valued at $487,213,000 after acquiring an additional 37,022,891 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Elanco Animal Health by 53.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 211,904 shares of the company's stock valued at $2,566,000 after purchasing an additional 73,838 shares during the last quarter. Finally, Old West Investment Management LLC purchased a new stake in Elanco Animal Health in the fourth quarter valued at $4,769,000. 97.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elanco Animal Health

In other Elanco Animal Health news, Director Lawrence Erik Kurzius bought 10,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $10.20 per share, for a total transaction of $102,000.00. Following the completion of the purchase, the director now directly owns 111,459 shares of the company's stock, valued at approximately $1,136,881.80. The trade was a 9.86 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.89% of the company's stock.

Elanco Animal Health Price Performance

Shares of ELAN stock traded up $0.39 during mid-day trading on Thursday, reaching $9.58. The stock had a trading volume of 1,308,491 shares, compared to its average volume of 4,902,973. 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 business has a 50-day simple moving average of $10.10 and a 200 day simple moving average of $11.73. The company has a market cap of $4.75 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 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 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 earnings per share. On average, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on ELAN shares. Morgan Stanley dropped their target price on shares of Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Stifel Nicolaus lowered their price objective on shares of Elanco Animal Health from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Barclays reduced their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. UBS Group lowered 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. Finally, Piper Sandler lowered their price objective on Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $14.67.

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.