Brevan Howard Capital Management LP Acquires 48,545 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Brevan Howard Capital Management LP boosted its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 93.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,235 shares of the company's stock after purchasing an additional 48,545 shares during the period. Brevan Howard Capital Management LP's holdings in Elanco Animal Health were worth $1,214,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ELAN. Wilmington Savings Fund Society FSB acquired a new stake in Elanco Animal Health in the 3rd quarter valued at about $35,000. Tidal Investments LLC lifted its holdings in shares of Elanco Animal Health by 25.5% during the 3rd quarter. Tidal Investments LLC now owns 84,578 shares of the company's stock worth $1,242,000 after acquiring an additional 17,206 shares during the period. Franklin Resources Inc. raised its stake in Elanco Animal Health by 14.0% during the third quarter. Franklin Resources Inc. now owns 372,230 shares of the company's stock worth $5,349,000 after acquiring an additional 45,795 shares in the last quarter. Everence Capital Management Inc. bought a new position in Elanco Animal Health in the 4th quarter valued at approximately $209,000. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Elanco Animal Health by 24.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,084,629 shares of the company's stock worth $13,135,000 after purchasing an additional 209,734 shares during the last quarter. 97.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ELAN shares. Stifel Nicolaus upped their target price on Elanco Animal Health from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Barclays cut their price objective on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Morgan Stanley reduced their price target on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. UBS Group cut their price target on shares of Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Finally, Piper Sandler dropped their price objective on shares of 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. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $15.00.

Insiders Place Their Bets

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

Elanco Animal Health Price Performance

Shares of ELAN traded up $0.23 during trading hours on Tuesday, reaching $13.05. 2,763,330 shares of the stock traded hands, compared to its average volume of 4,989,019. The company has a market cap of $6.48 billion, a P/E ratio of 32.63, 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. The company's 50-day moving average price is $9.93 and its two-hundred day moving average price is $11.42. Elanco Animal Health Incorporated has a 52-week low of $8.02 and a 52-week high of $18.80.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the previous year, the company earned $0.34 EPS. The business's quarterly revenue was down 1.0% compared to the same quarter last year. On average, analysts anticipate 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.