Public Employees Retirement System of Ohio Takes Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Public Employees Retirement System of Ohio bought a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 175,203 shares of the company's stock, valued at approximately $2,122,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its stake in Elanco Animal Health by 28.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,264 shares of the company's stock valued at $124,000 after acquiring an additional 2,264 shares during the last quarter. DDD Partners LLC acquired a new position in Elanco Animal Health during the 4th quarter worth approximately $5,974,000. Dimensional Fund Advisors LP increased its position 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 purchasing an additional 1,074,274 shares during the period. Jones Financial Companies Lllp increased its position in Elanco Animal Health by 95.6% during the 4th quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company's stock worth $51,000 after purchasing an additional 2,059 shares during the period. Finally, Private Management Group Inc. increased its position in Elanco Animal Health by 63.4% during the 4th quarter. Private Management Group Inc. now owns 2,357,142 shares of the company's stock worth $28,545,000 after purchasing an additional 914,808 shares during the period. Institutional investors and hedge funds own 97.48% of the company's stock.

Insider Activity

In other news, Director Lawrence Erik Kurzius bought 10,000 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the transaction, the director now owns 101,459 shares in the company, valued at $1,105,903.10. The trade was a 10.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.89% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Stifel Nicolaus boosted their target price on Elanco Animal Health from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. 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. Morgan Stanley dropped their target price on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Piper Sandler lowered their price target 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. Finally, Barclays reduced their target price on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $15.17.

Elanco Animal Health Stock Down 0.0%

NYSE ELAN traded down $0.01 during trading hours on Thursday, hitting $13.44. The company had a trading volume of 3,134,876 shares, compared to its average volume of 5,122,804. Elanco Animal Health Incorporated has a fifty-two week low of $8.02 and a fifty-two week high of $18.80. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 33.59, a P/E/G ratio of 2.50 and a beta of 1.49. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The firm's 50 day moving average is $10.83 and its 200 day moving average is $11.42.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. The firm 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 6.78% and a net margin of 4.60%. The firm's quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS. Sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

About Elanco Animal Health

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.