Adage Capital Partners GP L.L.C. Buys 1,041,308 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Adage Capital Partners GP L.L.C. increased its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 148.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,741,308 shares of the company's stock after acquiring an additional 1,041,308 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.35% of Elanco Animal Health worth $21,087,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. FMR LLC grew its stake in 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 buying an additional 37,022,891 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Elanco Animal Health by 76.6% during the third quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company's stock worth $147,747,000 after acquiring an additional 4,361,799 shares during the last quarter. Norges Bank acquired a new stake in shares of Elanco Animal Health in the 4th quarter worth about $47,424,000. Brandes Investment Partners LP lifted its position in Elanco Animal Health by 66.9% in the 4th quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company's stock valued at $69,405,000 after purchasing an additional 2,296,691 shares during the last quarter. Finally, Magnetar Financial LLC boosted its stake in Elanco Animal Health by 13.7% during the 4th quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company's stock valued at $145,711,000 after purchasing an additional 1,454,082 shares during the period. Institutional investors own 97.48% of the company's stock.

Elanco Animal Health Stock Up 4.0 %

Shares of Elanco Animal Health stock traded up $0.38 during trading on Friday, hitting $9.85. 1,252,874 shares of the stock traded hands, compared to its average volume of 4,931,856. The stock has a market cap of $4.89 billion, a P/E ratio of 24.69, a PEG ratio of 2.50 and a beta of 1.44. The company has a fifty day moving average price of $9.90 and a two-hundred day moving average price of $11.52. Elanco Animal Health Incorporated has a twelve month low of $8.02 and a twelve month high of $18.80. 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 posted its earnings results on Tuesday, February 25th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business's revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 earnings per share. Equities research analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ELAN shares. Barclays cut their price target 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. Morgan Stanley cut 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. Stifel Nicolaus lowered their price target on Elanco Animal Health from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Piper Sandler reduced their price objective on Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Finally, UBS Group decreased their price objective on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $14.67.

Insider Buying and Selling at Elanco Animal Health

In other news, Director Lawrence Erik Kurzius bought 10,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $10.90 per share, for a total transaction of $109,000.00. Following the purchase, the director now owns 101,459 shares of the company's stock, valued at $1,105,903.10. This represents a 10.93 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.89% of the company's stock.

Elanco Animal Health Company 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.