Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. cut its position in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 17.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 896,154 shares of the company's stock after selling 188,475 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.18% of Elanco Animal Health worth $9,410,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC lifted its position in shares of Elanco Animal Health by 1,153.6% during the 4th quarter. FMR LLC now owns 40,232,327 shares of the company's stock valued at $487,213,000 after buying an additional 37,022,891 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Elanco Animal Health by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,900,987 shares of the company's stock valued at $216,774,000 after purchasing an additional 1,074,274 shares during the last quarter. Shapiro Capital Management LLC grew its position in Elanco Animal Health by 7.5% in the fourth quarter. Shapiro Capital Management LLC now owns 12,356,702 shares of the company's stock worth $149,640,000 after acquiring an additional 862,900 shares in the last quarter. Magnetar Financial LLC raised its holdings 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 valued at $145,711,000 after buying an additional 1,454,082 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Elanco Animal Health by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 8,180,840 shares of the company's stock worth $99,102,000 after acquiring an additional 312,165 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Elanco Animal Health Stock Performance

NYSE ELAN traded down $0.21 during mid-day trading on Friday, reaching $13.97. 1,707,996 shares of the stock were exchanged, compared to its average volume of 5,164,110. Elanco Animal Health Incorporated has a 1 year low of $8.02 and a 1 year high of $18.55. 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 company has a market capitalization of $6.94 billion, a P/E ratio of 34.89, a P/E/G ratio of 2.50 and a beta of 1.67. The business's 50 day moving average is $11.27 and its 200-day moving average is $11.44.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.37 earnings per share 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 period in the prior year, the business posted $0.34 earnings per share. The firm's revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities research analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ELAN. Barclays dropped their price objective 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. UBS Group dropped their target price on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Piper Sandler lowered their target price on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Stifel Nicolaus boosted their price target on Elanco Animal Health from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Finally, Morgan Stanley reduced their target price on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $15.17.

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.