Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 30.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 766,595 shares of the company's stock after selling 329,115 shares during the period. Jennison Associates LLC owned about 0.15% of Elanco Animal Health worth $8,049,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC lifted its holdings in shares of Elanco Animal Health by 1,153.6% in 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 in the last quarter. Norges Bank acquired a new position in shares of Elanco Animal Health in the fourth quarter worth $47,424,000. Freestone Grove Partners LP acquired a new position in shares of Elanco Animal Health in the fourth quarter worth $20,396,000. Prudential Financial Inc. increased its stake in shares of Elanco Animal Health by 40.4% in the fourth quarter. Prudential Financial Inc. now owns 4,224,997 shares of the company's stock worth $51,165,000 after acquiring an additional 1,214,992 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased 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. Institutional investors and hedge funds own 97.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ELAN. Leerink Partners raised shares of Elanco Animal Health from a "market perform" rating to an "outperform" rating and set a $18.00 target price on the stock in a research report on Thursday. William Blair raised shares of Elanco Animal Health from a "market perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Wall Street Zen upgraded shares of Elanco Animal Health from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Leerink Partnrs upgraded shares of Elanco Animal Health from a "hold" rating to a "strong-buy" rating in a report on Thursday. Finally, Stifel Nicolaus upped their price target on shares of Elanco Animal Health from $16.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $16.00.

Elanco Animal Health Stock Down 1.2%

NYSE ELAN opened at $14.78 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.71. The firm has a 50-day simple moving average of $13.82 and a 200 day simple moving average of $11.79. Elanco Animal Health Incorporated has a twelve month low of $8.02 and a twelve month high of $15.78. The stock has a market cap of $7.34 billion, a PE ratio of 19.97, a PEG ratio of 2.88 and a beta of 1.67.

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

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.

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