Jennison Associates LLC Sells 329,115 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Jennison Associates LLC decreased its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 30.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 766,595 shares of the company's stock after selling 329,115 shares during the quarter. Jennison Associates LLC owned about 0.15% of Elanco Animal Health worth $8,049,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of Elanco Animal Health by 791.7% in the first quarter. Allworth Financial LP now owns 2,354 shares of the company's stock valued at $25,000 after acquiring an additional 2,090 shares during the period. CoreCap Advisors LLC acquired a new position in Elanco Animal Health during the 4th quarter valued at $29,000. NBC Securities Inc. acquired a new position in Elanco Animal Health during the 1st quarter valued at $40,000. Parallel Advisors LLC grew its position in 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 purchasing an additional 1,852 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in 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 purchasing an additional 1,740 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company's stock.

Elanco Animal Health Price Performance

NYSE ELAN traded down $0.33 during trading on Thursday, reaching $14.70. 6,504,043 shares of the company traded hands, compared to its average volume of 4,061,038. Elanco Animal Health Incorporated has a 1-year low of $8.02 and a 1-year high of $15.78. The company has a market cap of $7.30 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 2.93 and a beta of 1.67. The stock's 50 day moving average price is $13.94 and its two-hundred day moving average price is $11.85. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.71.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. Elanco Animal Health had a return on equity of 7.54% and a net margin of 8.43%. Elanco Animal Health's revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.34 EPS. As a group, analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Wall Street Analyst Weigh In

ELAN has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Elanco Animal Health from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Stifel Nicolaus upped their price target on Elanco Animal Health from $16.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. UBS Group raised their price objective on Elanco Animal Health from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday. Leerink Partners upgraded Elanco Animal Health from a "market perform" rating to an "outperform" rating and set a $18.00 price objective on the stock in a research report on Thursday, July 17th. 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 investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.17.

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.