Bayesian Capital Management LP Buys Shares of 32,600 Elanco Animal Health Incorporated (NYSE:ELAN)

Bayesian Capital Management LP acquired a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 32,600 shares of the company's stock, valued at approximately $395,000.

Several other institutional investors and hedge funds have also made changes to their positions in ELAN. FMR LLC lifted its stake in shares of Elanco Animal Health by 1,153.6% in the fourth 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. Norges Bank bought a new stake in Elanco Animal Health during the 4th quarter valued at $47,424,000. Brandes Investment Partners LP raised its position in shares of Elanco Animal Health by 66.9% during the 4th quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company's stock worth $69,405,000 after buying an additional 2,296,691 shares in the last quarter. Freestone Grove Partners LP bought a new stake in Elanco Animal Health during the fourth quarter worth approximately $20,396,000. Finally, Magnetar Financial LLC lifted its holdings in Elanco Animal Health by 13.7% in the 4th quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company's stock valued at $145,711,000 after acquiring an additional 1,454,082 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Elanco Animal Health Trading Down 2.1 %

ELAN traded down $0.26 during trading on Friday, hitting $12.02. The company's stock had a trading volume of 8,518,434 shares, compared to its average volume of 4,986,928. The firm has a market capitalization of $5.97 billion, a P/E ratio of 30.05, a PEG ratio of 2.50 and a beta of 1.49. Elanco Animal Health Incorporated has a twelve month low of $8.02 and a twelve month high of $18.80. The stock's fifty day moving average price is $9.89 and its 200-day moving average price is $11.42. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66.

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

Wall Street Analysts Forecast Growth

ELAN has been the subject of several recent analyst reports. Morgan Stanley decreased 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. Piper Sandler dropped their price target on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, March 6th. Barclays lowered their target price on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus increased their target price on shares of Elanco Animal Health from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday. Finally, UBS Group decreased their target price on shares of Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $15.00.

Insider Activity

In other news, Director Lawrence Erik Kurzius bought 10,000 shares of Elanco Animal Health stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average price of $10.20 per share, for a total transaction of $102,000.00. Following the purchase, the director now directly owns 111,459 shares in the company, valued at $1,136,881.80. The trade was a 9.86 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.89% of the company's stock.

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.