Envestnet Asset Management Inc. Has $2.57 Million Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Envestnet Asset Management Inc. increased its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 53.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 211,904 shares of the company's stock after acquiring an additional 73,838 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Elanco Animal Health were worth $2,566,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ELAN. Magnetar Financial LLC grew its position in shares of Elanco Animal Health by 13.7% during the fourth 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 in the last quarter. JPMorgan Chase & Co. grew its holdings in Elanco Animal Health by 76.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company's stock valued at $147,747,000 after buying an additional 4,361,799 shares in the last quarter. Geode Capital Management LLC increased its stake in 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 acquiring an additional 312,165 shares during the last quarter. Brandes Investment Partners LP raised its holdings 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 acquiring an additional 2,296,691 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Elanco Animal Health by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,687,610 shares of the company's stock valued at $56,767,000 after acquiring an additional 162,994 shares during the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ELAN shares. Morgan Stanley lowered their price objective on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Piper Sandler lowered their target price on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. Stifel Nicolaus reduced their price objective on shares of Elanco Animal Health from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. UBS Group lowered their price objective on shares of Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Finally, Barclays dropped their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Elanco Animal Health currently has an average rating of "Hold" and a consensus target price of $14.67.

Insider Transactions at Elanco Animal Health

In other Elanco Animal Health news, Director Lawrence Erik Kurzius purchased 10,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $10.90 per share, with a total value of $109,000.00. Following the completion of the transaction, the director now directly owns 101,459 shares in the company, valued at $1,105,903.10. This trade represents a 10.93 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.89% of the company's stock.

Elanco Animal Health Stock Up 1.2 %

Shares of ELAN stock traded up $0.12 on Thursday, hitting $9.60. The company's stock had a trading volume of 452,534 shares, compared to its average volume of 4,926,201. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 2.50 and a beta of 1.44. Elanco Animal Health Incorporated has a fifty-two week low of $8.02 and a fifty-two week high of $18.80. The firm's fifty day moving average price is $9.94 and its 200-day moving average price is $11.56.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. Research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

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.