State Street Corp Buys 255,084 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

State Street Corp boosted its holdings in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,912,693 shares of the company's stock after acquiring an additional 255,084 shares during the quarter. State Street Corp owned 2.01% of Elanco Animal Health worth $145,617,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Magnetar Financial LLC grew its position in Elanco Animal Health by 61.2% in the 2nd 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 in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Elanco Animal Health by 6.6% in the third quarter. The Manufacturers Life Insurance Company now owns 6,385,467 shares of the company's stock valued at $93,803,000 after acquiring an additional 394,921 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Elanco Animal Health during the second quarter valued at approximately $55,599,000. Douglas Lane & Associates LLC lifted its holdings in Elanco Animal Health by 1.0% during the third quarter. Douglas Lane & Associates LLC now owns 3,767,784 shares of the company's stock worth $55,349,000 after acquiring an additional 37,349 shares during the period. Finally, Brandes Investment Partners LP lifted its holdings in Elanco Animal Health by 1.3% during the second quarter. Brandes Investment Partners LP now owns 2,945,967 shares of the company's stock worth $42,445,000 after acquiring an additional 36,944 shares during the period. Institutional investors and hedge funds own 97.48% of the company's stock.

Elanco Animal Health Price Performance

NYSE ELAN traded down $0.49 during trading hours on Friday, reaching $12.10. 8,367,192 shares of the stock traded hands, compared to its average volume of 4,775,922. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The stock has a 50 day simple moving average of $13.22 and a two-hundred day simple moving average of $14.34. Elanco Animal Health Incorporated has a 1 year low of $11.40 and a 1 year high of $18.80. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41.

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 for the quarter, beating analysts' consensus estimates 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 for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. On average, analysts predict that Elanco Animal Health Incorporated will post 0.92 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus reaffirmed a "buy" rating and set a $20.00 target price on shares of Elanco Animal Health in a research report on Thursday, September 19th. UBS Group assumed coverage on shares of Elanco Animal Health in a report on Monday, December 9th. They set a "buy" rating and a $18.00 price objective for the company. Barclays boosted their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Leerink Partnrs upgraded shares of Elanco Animal Health to a "hold" rating in a research note on Monday, December 2nd. Finally, Morgan Stanley downgraded Elanco Animal Health from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Elanco Animal Health has an average rating of "Hold" and a consensus price target of $16.75.

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.