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Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Primecap Management Co. CA

Elanco Animal Health logo with Medical background

Key Points

  • Primecap Management Co. CA reduced its stake in Elanco Animal Health by 1.8%, now owning approximately 50.2 million shares, valued at about $527 million.
  • Several institutional investors significantly increased their holdings in Elanco during the first quarter, indicating strong interest, with over 97% of the stock currently owned by institutional investors.
  • Recently, analysts have upgraded Elanco Animal Health’s ratings, with UBS raising its price target from $17.00 to $18.00, reflecting a positive outlook for the company’s stock performance.
  • Want stock alerts on Elanco Animal Health? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Primecap Management Co. CA cut its holdings in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,223,535 shares of the company's stock after selling 941,630 shares during the quarter. Primecap Management Co. CA owned about 10.12% of Elanco Animal Health worth $527,347,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ELAN. Allworth Financial LP increased its stake in 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 purchasing an additional 2,090 shares during the period. CoreCap Advisors LLC acquired a new position in Elanco Animal Health in the fourth quarter valued at $29,000. NBC Securities Inc. acquired a new position in Elanco Animal Health in the first quarter valued at $40,000. Parallel Advisors LLC increased its stake in Elanco Animal Health by 92.2% in the first quarter. Parallel Advisors LLC now owns 3,860 shares of the company's stock valued at $41,000 after purchasing an additional 1,852 shares during the period. Finally, Versant Capital Management Inc increased its stake in Elanco Animal Health by 65.9% in the first quarter. Versant Capital Management Inc now owns 4,382 shares of the company's stock valued at $46,000 after purchasing an additional 1,740 shares during the period. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ELAN has been the topic of a number of recent research reports. UBS Group lifted their price objective on shares of Elanco Animal Health from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Leerink Partnrs upgraded shares of Elanco Animal Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 17th. Leerink Partners upgraded shares of Elanco Animal Health from a "market perform" rating to an "outperform" rating and set a $18.00 price target on the stock in a research note on Thursday, July 17th. Wall Street Zen upgraded shares of Elanco Animal Health from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Stifel Nicolaus boosted their price target on shares of Elanco Animal Health from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $16.17.

Get Our Latest Report on ELAN

Elanco Animal Health Trading Up 1.2%

Shares of Elanco Animal Health stock opened at $14.24 on Wednesday. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.74 and a beta of 1.66. Elanco Animal Health Incorporated has a 52-week low of $8.02 and a 52-week high of $15.78. The company's 50-day simple moving average is $14.19 and its 200-day simple moving average is $12.01. The company has a quick ratio of 1.46, a current ratio of 2.71 and a debt-to-equity ratio of 0.68.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.06. The firm 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 8.43% and a return on equity of 7.54%. The firm's revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share. As a group, equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

About Elanco Animal Health

(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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Institutional Ownership by Quarter for Elanco Animal Health (NYSE:ELAN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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