The Manufacturers Life Insurance Company Buys 538,631 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

The Manufacturers Life Insurance Company lifted its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 8.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,924,098 shares of the company's stock after purchasing an additional 538,631 shares during the period. The Manufacturers Life Insurance Company owned 1.40% of Elanco Animal Health worth $83,851,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ELAN. Aquatic Capital Management LLC bought a new position in shares of Elanco Animal Health during the 4th quarter worth approximately $232,000. Boothbay Fund Management LLC grew its holdings in Elanco Animal Health by 11.0% in the fourth quarter. Boothbay Fund Management LLC now owns 2,055,567 shares of the company's stock worth $24,893,000 after purchasing an additional 203,467 shares during the period. Nebula Research & Development LLC increased its stake in Elanco Animal Health by 11.2% in the fourth quarter. Nebula Research & Development LLC now owns 162,027 shares of the company's stock valued at $1,962,000 after purchasing an additional 16,382 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Elanco Animal Health by 148.8% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,741,308 shares of the company's stock valued at $21,087,000 after purchasing an additional 1,041,308 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in shares of Elanco Animal Health during the 4th quarter worth about $654,000. Institutional investors and hedge funds own 97.48% of the company's stock.

Insider Buying and Selling at Elanco Animal Health

In other news, Director Lawrence Erik Kurzius purchased 10,000 shares of Elanco Animal Health stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $10.90 per share, for a total transaction of $109,000.00. Following the transaction, the director now directly owns 101,459 shares of the company's stock, valued at approximately $1,105,903.10. This trade represents a 10.93 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.89% of the company's stock.

Elanco Animal Health Stock Performance

Shares of NYSE ELAN traded up $0.28 during mid-day trading on Friday, reaching $9.75. 3,509,607 shares of the company's stock were exchanged, compared to its average volume of 4,943,941. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44. The firm has a 50-day moving average price of $9.89 and a two-hundred day moving average price of $11.49. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. 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 released its earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. The firm's revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 earnings per share. Analysts predict 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 a number of research analyst reports. Morgan Stanley decreased their target price on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. 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 research report on Wednesday, February 26th. UBS Group reduced their price target on shares of 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. Piper Sandler decreased their price target on shares of 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, Stifel Nicolaus decreased their price objective on Elanco Animal Health from $15.00 to $13.00 and set a "buy" rating for the company in a report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $14.67.

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.