Primecap Management Co. CA Cuts Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Primecap Management Co. CA trimmed its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,575,502 shares of the company's stock after selling 227,261 shares during the period. Primecap Management Co. CA owned approximately 10.64% of Elanco Animal Health worth $772,334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Elanco Animal Health by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company's stock valued at $360,425,000 after acquiring an additional 852,281 shares during the period. Ancora Advisors LLC raised its holdings in Elanco Animal Health by 1.4% during the first quarter. Ancora Advisors LLC now owns 10,641,194 shares of the company's stock valued at $173,239,000 after acquiring an additional 143,326 shares during the period. Magnetar Financial LLC increased its holdings in shares of Elanco Animal Health by 61.2% in the second quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company's stock worth $120,298,000 after purchasing an additional 3,164,350 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Elanco Animal Health by 11.3% in the second quarter. The Manufacturers Life Insurance Company now owns 5,990,546 shares of the company's stock worth $86,444,000 after purchasing an additional 609,194 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Elanco Animal Health in the second quarter worth about $55,599,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Elanco Animal Health Trading Up 1.0 %

ELAN opened at $13.44 on Thursday. Elanco Animal Health Incorporated has a one year low of $11.40 and a one year high of $18.80. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 33.60, a P/E/G ratio of 1.39 and a beta of 1.41. The stock's 50 day moving average price is $13.74 and its 200-day moving average price is $14.76. 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 (NYSE:ELAN - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.04 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. Elanco Animal Health's revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, equities analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ELAN. Barclays lifted their target price on Elanco Animal Health from $19.00 to $20.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $20.00 target price on shares of Elanco Animal Health in a report on Thursday, September 19th. Finally, Morgan Stanley downgraded Elanco Animal Health from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $17.00 to $15.00 in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $17.14.

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.

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