Tang Capital Management LLC lifted its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 33.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 800,000 shares of the company's stock after acquiring an additional 200,000 shares during the period. Tang Capital Management LLC owned 0.16% of Elanco Animal Health worth $9,688,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its stake in Elanco Animal Health by 1,153.6% during the 4th quarter. FMR LLC now owns 40,232,327 shares of the company's stock worth $487,213,000 after buying an additional 37,022,891 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Elanco Animal Health by 6.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,900,987 shares of the company's stock worth $216,774,000 after buying an additional 1,074,274 shares during the last quarter. Shapiro Capital Management LLC grew its stake in Elanco Animal Health by 7.5% during the 4th quarter. Shapiro Capital Management LLC now owns 12,356,702 shares of the company's stock worth $149,640,000 after buying an additional 862,900 shares during the last quarter. Magnetar Financial LLC grew its stake in Elanco Animal Health by 13.7% during the 4th quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company's stock worth $145,711,000 after buying an additional 1,454,082 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Elanco Animal Health by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 8,180,840 shares of the company's stock worth $99,102,000 after buying an additional 312,165 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on ELAN. Piper Sandler dropped their target price on Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. UBS Group decreased their price target on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Stifel Nicolaus increased their price target on Elanco Animal Health from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Morgan Stanley decreased their price target on 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. Finally, Barclays decreased their price target on 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $15.00.
View Our Latest Research Report on Elanco Animal Health
Insider Activity
In other news, Director Lawrence Erik Kurzius purchased 10,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $10.90 per share, for a total transaction 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 represents a 10.93% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.89% of the company's stock.
Elanco Animal Health Price Performance
Elanco Animal Health stock opened at $12.94 on Friday. Elanco Animal Health Incorporated has a one year low of $8.02 and a one year high of $18.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. The business has a fifty day moving average of $10.11 and a two-hundred day moving average of $11.44. The company has a market cap of $6.42 billion, a P/E ratio of 32.34, a price-to-earnings-growth ratio of 2.50 and a beta of 1.49.
Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company earned $0.34 earnings per share. Elanco Animal Health's quarterly revenue was down 1.0% compared to the same quarter last year. As a group, analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.
Elanco Animal Health Company Profile
(
Free Report)
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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