Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. reduced its position in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 64.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 900,000 shares of the company's stock after selling 1,623,687 shares during the period. Alyeska Investment Group L.P. owned 0.18% of Elanco Animal Health worth $10,899,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ELAN. FMR LLC raised its holdings in shares of Elanco Animal Health by 1,153.6% during the 4th quarter. FMR LLC now owns 40,232,327 shares of the company's stock worth $487,213,000 after acquiring an additional 37,022,891 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Elanco Animal Health by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,900,987 shares of the company's stock valued at $216,774,000 after purchasing an additional 1,074,274 shares during the last quarter. Magnetar Financial LLC grew its stake in shares of Elanco Animal Health by 13.7% in the 4th quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company's stock worth $145,711,000 after buying an additional 1,454,082 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Elanco Animal Health by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 8,180,840 shares of the company's stock worth $99,102,000 after buying an additional 312,165 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Elanco Animal Health by 8.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,924,098 shares of the company's stock valued at $83,851,000 after buying an additional 538,631 shares in the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius bought 10,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $10.20 per share, for a total transaction of $102,000.00. Following the completion of the acquisition, the director now directly owns 111,459 shares in the company, valued at approximately $1,136,881.80. This represents 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. 0.89% of the stock is owned by insiders.

Analysts Set New Price Targets

ELAN has been the topic of several analyst reports. Piper Sandler reduced their price objective on Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. UBS Group decreased their price target on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus lifted their price objective on shares of Elanco Animal Health from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday. Morgan Stanley reduced their target price on shares of Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Finally, Barclays dropped their price target on shares of Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $15.00.

Elanco Animal Health Trading Down 2.1 %

Shares of NYSE ELAN traded down $0.26 during mid-day trading on Friday, reaching $12.02. The company had a trading volume of 8,518,434 shares, compared to its average volume of 4,986,928. Elanco Animal Health Incorporated has a 52 week low of $8.02 and a 52 week high of $18.80. The business's 50-day moving average is $9.89 and its 200-day moving average is $11.42. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 2.50 and a beta of 1.49. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.06. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The company's revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Equities analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

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.