Allianz Asset Management GmbH Sells 317,192 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Key Points

• Allianz Asset Management GmbH decreased its stake in Elanco Animal Health by 23.5%, owning approximately 1,032,340 shares worth $10.84 million after selling 317,192 shares in the first quarter.
• Institutional investors and hedge funds collectively own 97.48% of Elanco Animal Health, with notable changes including a 791.7% increase in stake by Allworth Financial LP during the first quarter.
• Wall Street analysts are optimistic about Elanco, with several upgrades and a consensus rating of "Moderate Buy", forecasting an average price target of $16.17 for the stock.

Allianz Asset Management GmbH lowered its holdings in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 23.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,032,340 shares of the company's stock after selling 317,192 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.21% of Elanco Animal Health worth $10,840,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP lifted its holdings in Elanco Animal Health by 791.7% in the 1st quarter. Allworth Financial LP now owns 2,354 shares of the company's stock worth $25,000 after buying an additional 2,090 shares during the period. CoreCap Advisors LLC purchased a new stake in Elanco Animal Health in the 4th quarter worth approximately $29,000. NBC Securities Inc. bought a new position in shares of Elanco Animal Health in the 1st quarter worth approximately $40,000. Parallel Advisors LLC raised its position in shares of Elanco Animal Health by 92.2% in the 1st quarter. Parallel Advisors LLC now owns 3,860 shares of the company's stock worth $41,000 after acquiring an additional 1,852 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Elanco Animal Health by 65.9% in the 1st quarter. Versant Capital Management Inc now owns 4,382 shares of the company's stock worth $46,000 after acquiring an additional 1,740 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ELAN shares. UBS Group increased their target price on Elanco Animal Health from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. William Blair raised Elanco Animal Health from a "market perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Leerink Partners upgraded shares of Elanco Animal Health from a "market perform" rating to an "outperform" rating and set a $18.00 target price for the company in a report on Thursday, July 17th. Wall Street Zen raised Elanco Animal Health from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, Leerink Partnrs raised Elanco Animal Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.17.

Elanco Animal Health Stock Down 1.9%

ELAN traded down $0.27 during trading on Wednesday, hitting $14.12. 6,565,866 shares of the company's stock traded hands, compared to its average volume of 4,018,918. The company's 50 day simple moving average is $14.09 and its two-hundred day simple moving average is $11.95. The company has a current ratio of 2.71, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. Elanco Animal Health Incorporated has a 12-month low of $8.02 and a 12-month high of $15.78. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 2.81 and a beta of 1.67.

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 analysts' consensus estimates of $0.31 by $0.06. Elanco Animal Health had a net margin of 8.43% and a return on equity of 7.54%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business posted $0.34 earnings per share. The business's revenue for the quarter was down 1.0% on a year-over-year basis. Analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

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.