Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lowered its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 82.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,966 shares of the company's stock after selling 76,941 shares during the period. Cresset Asset Management LLC's holdings in Elanco Animal Health were worth $193,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Crestline Management LP boosted its position in shares of Elanco Animal Health by 19.7% during the 4th quarter. Crestline Management LP now owns 105,013 shares of the company's stock valued at $1,272,000 after acquiring an additional 17,317 shares during the last quarter. Cetera Investment Advisers raised its stake in Elanco Animal Health by 17.2% during the fourth quarter. Cetera Investment Advisers now owns 31,004 shares of the company's stock worth $375,000 after purchasing an additional 4,553 shares during the period. Centiva Capital LP acquired a new position in Elanco Animal Health in the 4th quarter valued at about $1,188,000. Brevan Howard Capital Management LP grew its stake in shares of Elanco Animal Health by 93.9% in the 4th quarter. Brevan Howard Capital Management LP now owns 100,235 shares of the company's stock valued at $1,214,000 after buying an additional 48,545 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in shares of Elanco Animal Health during the 4th quarter worth $395,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ELAN shares. Stifel Nicolaus boosted their price target on shares of Elanco Animal Health from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Monday. Morgan Stanley cut their target price on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Barclays reduced their price target on shares of 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. Piper Sandler decreased their price objective 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. Finally, UBS Group lowered their target price on shares of Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a 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 MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $15.17.

Elanco Animal Health Price Performance

Shares of ELAN traded up $0.06 on Thursday, reaching $12.68. The stock had a trading volume of 4,875,464 shares, compared to its average volume of 5,064,720. Elanco Animal Health Incorporated has a twelve month low of $8.02 and a twelve month high of $18.80. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average of $10.26 and a 200 day moving average of $11.45. The firm has a market capitalization of $6.30 billion, a PE ratio of 31.70, a PEG ratio of 2.50 and a beta of 1.49.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.06. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the previous year, the business posted $0.34 earnings per share. The firm's quarterly revenue 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.

Insider Activity at Elanco Animal Health

In other news, Director Lawrence Erik Kurzius acquired 10,000 shares of Elanco Animal Health stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $10.20 per share, with a total value of $102,000.00. Following the completion of the purchase, the director now owns 111,459 shares of the company's stock, valued at approximately $1,136,881.80. This represents a 9.86% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is owned by corporate insiders.

Elanco Animal Health 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.