Bank of America Corp DE Sells 430,146 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Bank of America Corp DE lessened its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 20.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,679,887 shares of the company's stock after selling 430,146 shares during the quarter. Bank of America Corp DE owned approximately 0.34% of Elanco Animal Health worth $20,343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hillsdale Investment Management Inc. raised its holdings in Elanco Animal Health by 2.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company's stock valued at $524,000 after acquiring an additional 900 shares during the period. Arizona State Retirement System increased its stake in shares of Elanco Animal Health by 0.8% during the fourth quarter. Arizona State Retirement System now owns 143,462 shares of the company's stock worth $1,737,000 after purchasing an additional 1,166 shares during the period. MTM Investment Management LLC lifted its holdings in Elanco Animal Health by 9.3% during the 4th quarter. MTM Investment Management LLC now owns 14,168 shares of the company's stock worth $172,000 after purchasing an additional 1,200 shares during the last quarter. Freedom Investment Management Inc. lifted its holdings in Elanco Animal Health by 9.1% during the 4th quarter. Freedom Investment Management Inc. now owns 20,746 shares of the company's stock worth $251,000 after purchasing an additional 1,725 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Elanco Animal Health by 47.7% in the 4th quarter. Blue Trust Inc. now owns 5,862 shares of the company's stock valued at $71,000 after purchasing an additional 1,894 shares during the period. Institutional investors own 97.48% of the company's stock.

Insider Buying and Selling at Elanco Animal Health

In other Elanco Animal Health news, Director Lawrence Erik Kurzius bought 10,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $10.20 per share, with a total value of $102,000.00. Following the transaction, the director now directly owns 111,459 shares in the company, valued at $1,136,881.80. This trade represents a 9.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group reduced their target price 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. Stifel Nicolaus boosted their price objective on shares of Elanco Animal Health from $15.00 to $16.00 and gave the company a "buy" rating in a report on Monday. Piper Sandler decreased their target price on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, March 6th. Morgan Stanley dropped their price target on shares of 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. Finally, Barclays lowered their price objective on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $15.17.

Elanco Animal Health Stock Performance

NYSE ELAN opened at $13.24 on Tuesday. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 2.50 and a beta of 1.49. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. Elanco Animal Health Incorporated has a twelve month low of $8.02 and a twelve month high of $18.80. The stock has a fifty day simple moving average of $10.16 and a 200 day simple moving average of $11.44.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the company earned $0.34 EPS. The firm's revenue for the quarter was down 1.0% compared to the same quarter last year. Sell-side analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current 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.

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