Elanco Animal Health Incorporated (NYSE:ELAN) Stake Raised by Magnetar Financial LLC

Magnetar Financial LLC grew its position in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,032,325 shares of the company's stock after acquiring an additional 1,454,082 shares during the quarter. Elanco Animal Health comprises about 3.5% of Magnetar Financial LLC's portfolio, making the stock its 2nd largest position. Magnetar Financial LLC owned 2.43% of Elanco Animal Health worth $145,711,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted 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 purchasing an additional 4,361,799 shares during the last quarter. Brandes Investment Partners LP raised its stake in shares of Elanco Animal Health by 66.9% during the fourth quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company's stock valued at $69,405,000 after acquiring an additional 2,296,691 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Elanco Animal Health in the third quarter valued at approximately $19,708,000. Private Management Group Inc. increased its holdings in Elanco Animal Health by 63.4% during the 4th quarter. Private Management Group Inc. now owns 2,357,142 shares of the company's stock worth $28,545,000 after purchasing an additional 914,808 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Elanco Animal Health during the 4th quarter worth $10,561,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ELAN shares. Leerink Partnrs raised Elanco Animal Health to a "hold" rating in a research report on Monday, December 2nd. Stifel Nicolaus cut their price objective on shares of Elanco Animal Health from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, February 21st. 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 report on Wednesday, February 26th. Morgan Stanley cut their price target on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Finally, Leerink Partners started coverage on Elanco Animal Health in a research report on Monday, December 2nd. They issued a "market perform" rating and a $14.00 price target for the company. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Elanco Animal Health presently has a consensus rating of "Hold" and a consensus price target of $15.17.

Elanco Animal Health Stock Up 1.6 %

ELAN traded up $0.16 during trading on Monday, hitting $10.69. The stock had a trading volume of 3,637,279 shares, compared to its average volume of 4,672,513. The stock has a 50 day simple moving average of $11.36 and a two-hundred day simple moving average of $12.57. 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 twelve month low of $10.03 and a twelve month high of $18.80. The company has a market capitalization of $5.29 billion, a PE ratio of 26.74, a PEG ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued 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). Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the prior year, the company posted $0.08 EPS. The business's revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Lawrence Erik Kurzius purchased 10,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $10.20 per share, with a total value of $102,000.00. Following the completion of the acquisition, the director now owns 111,459 shares in the company, valued at approximately $1,136,881.80. This represents a 9.86 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.57% of the company's stock.

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.