Ionic Capital Management LLC Cuts Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Ionic Capital Management LLC trimmed its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 20.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,391 shares of the company's stock after selling 32,206 shares during the quarter. Elanco Animal Health accounts for about 0.2% of Ionic Capital Management LLC's holdings, making the stock its 27th largest position. Ionic Capital Management LLC's holdings in Elanco Animal Health were worth $1,531,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. FMR LLC grew its stake in Elanco Animal Health by 1,153.6% in the 4th 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 during the period. Norges Bank bought a new position in Elanco Animal Health during the fourth quarter valued at about $47,424,000. Brandes Investment Partners LP increased its holdings in Elanco Animal Health by 66.9% during the fourth quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company's stock worth $69,405,000 after buying an additional 2,296,691 shares during the last quarter. Freestone Grove Partners LP bought a new stake in Elanco Animal Health in the fourth quarter worth about $20,396,000. Finally, Magnetar Financial LLC raised its position in Elanco Animal Health by 13.7% in the fourth 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. 97.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Lawrence Erik Kurzius purchased 10,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $10.20 per share, with a total value of $102,000.00. Following the acquisition, the director now directly owns 111,459 shares of the company's stock, valued at approximately $1,136,881.80. This represents a 9.86 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Piper Sandler lowered their price target on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Stifel Nicolaus boosted their target price on Elanco Animal Health from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday. 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. Morgan Stanley dropped their price objective on shares of Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Finally, Barclays reduced their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Elanco Animal Health presently has a consensus rating of "Hold" and an average target price of $15.00.

Elanco Animal Health Trading Down 2.1 %

Shares of ELAN opened at $12.02 on Friday. Elanco Animal Health Incorporated has a twelve month low of $8.02 and a twelve month high of $18.80. The stock has a market cap of $5.97 billion, a PE ratio of 30.05, a P/E/G ratio of 2.50 and a beta of 1.49. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The business's 50-day moving average price is $9.89 and its 200-day moving average price is $11.42.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its earnings results 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 business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm posted $0.34 EPS. Elanco Animal Health's revenue was down 1.0% on a year-over-year basis. On average, equities analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS 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.

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