BNP Paribas Financial Markets Sells 204,974 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

BNP Paribas Financial Markets lessened its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 78.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,351 shares of the company's stock after selling 204,974 shares during the period. BNP Paribas Financial Markets' holdings in Elanco Animal Health were worth $670,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Elanco Animal Health by 1,153.6% during the fourth quarter. FMR LLC now owns 40,232,327 shares of the company's stock valued at $487,213,000 after purchasing an additional 37,022,891 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Elanco Animal Health by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,900,987 shares of the company's stock worth $216,774,000 after acquiring an additional 1,074,274 shares during the last quarter. Magnetar Financial LLC grew its stake in shares of Elanco Animal Health by 13.7% in the fourth quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company's stock worth $145,711,000 after acquiring an additional 1,454,082 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Elanco Animal Health by 4.0% in the fourth 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. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Elanco Animal Health by 8.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 6,924,098 shares of the company's stock worth $83,851,000 after acquiring an additional 538,631 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company's stock.

Elanco Animal Health Stock Up 0.5%

ELAN traded up $0.07 during trading on Wednesday, reaching $13.25. 647,665 shares of the stock were exchanged, compared to its average volume of 5,068,334. The stock has a market cap of $6.58 billion, a P/E ratio of 33.12, a price-to-earnings-growth ratio of 2.50 and a beta of 1.49. Elanco Animal Health Incorporated has a twelve month low of $8.02 and a twelve month high of $18.80. The stock's 50 day moving average price is $10.43 and its two-hundred day moving average price is $11.43. 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 issued its earnings results on Wednesday, May 7th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.06. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The firm's revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 earnings per share. Equities analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Insiders Place Their Bets

In related news, Director Lawrence Erik Kurzius acquired 10,000 shares of Elanco Animal Health stock in a transaction on 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 completion of 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.89% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Morgan Stanley reduced 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 report on Wednesday, February 26th. Piper Sandler reduced their target price on Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. UBS Group reduced their target price 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. Stifel Nicolaus raised their target price on Elanco Animal Health from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, Barclays reduced their target price on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $15.17.

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.