Twinbeech Capital LP Increases Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Twinbeech Capital LP increased its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 878.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 914,775 shares of the company's stock after buying an additional 821,288 shares during the quarter. Twinbeech Capital LP owned 0.19% of Elanco Animal Health worth $11,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC lifted its position in Elanco Animal Health by 1,153.6% during the 4th quarter. FMR LLC now owns 40,232,327 shares of the company's stock worth $487,213,000 after acquiring an additional 37,022,891 shares during the period. Dimensional Fund Advisors LP lifted 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 acquiring an additional 1,074,274 shares during the period. Shapiro Capital Management LLC lifted its position in Elanco Animal Health by 7.5% during the 4th 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 during the period. Magnetar Financial LLC lifted its position 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 worth $145,711,000 after acquiring an additional 1,454,082 shares during the period. Finally, Geode Capital Management LLC lifted its position in Elanco Animal Health by 4.0% during 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 period. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius bought 10,000 shares of Elanco Animal Health stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $10.90 per share, with a total value of $109,000.00. Following the completion of the acquisition, the director now directly owns 101,459 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ELAN has been the subject of a number of research reports. Barclays lowered their price target on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Morgan Stanley lowered their price target on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company 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 for the company in a research report on Thursday, March 6th. Stifel Nicolaus lifted their price target on Elanco Animal Health from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Monday. Finally, UBS Group decreased their price objective on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $15.17.

Elanco Animal Health Stock Performance

Shares of ELAN stock opened at $13.24 on Tuesday. The stock has a market cap of $6.58 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 2.50 and a beta of 1.49. The business has a 50-day simple moving average of $10.16 and a 200-day simple moving average of $11.44. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. Elanco Animal Health Incorporated has a 52-week low of $8.02 and a 52-week high of $18.80.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.17 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company's revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS. On average, equities analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

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.

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