Nuveen Asset Management LLC Decreases Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Nuveen Asset Management LLC lessened its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,754,261 shares of the company's stock after selling 871,517 shares during the period. Nuveen Asset Management LLC owned 2.38% of Elanco Animal Health worth $142,344,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ELAN. Hillsdale Investment Management Inc. increased its position in shares of Elanco Animal Health by 2.1% during the fourth quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company's stock worth $524,000 after acquiring an additional 900 shares in the last quarter. Arizona State Retirement System increased its position in shares of Elanco Animal Health by 0.8% during the fourth quarter. Arizona State Retirement System now owns 143,462 shares of the company's stock worth $1,737,000 after acquiring an additional 1,166 shares in the last quarter. MTM Investment Management LLC grew its position in Elanco Animal Health by 9.3% in the 4th quarter. MTM Investment Management LLC now owns 14,168 shares of the company's stock worth $172,000 after purchasing an additional 1,200 shares in the last quarter. Freedom Investment Management Inc. grew its position in Elanco Animal Health by 9.1% in the 4th quarter. Freedom Investment Management Inc. now owns 20,746 shares of the company's stock worth $251,000 after purchasing an additional 1,725 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Elanco Animal Health by 47.7% in the 4th quarter. Blue Trust Inc. now owns 5,862 shares of the company's stock worth $71,000 after purchasing an additional 1,894 shares in the last quarter. Institutional investors and hedge funds own 97.48% of the company's stock.

Insider Buying and Selling at Elanco Animal Health

In other Elanco Animal Health news, Director Lawrence Erik Kurzius bought 10,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $10.20 per share, for a total transaction of $102,000.00. Following the completion of the acquisition, the director now owns 111,459 shares of the company's stock, valued at approximately $1,136,881.80. This trade represents a 9.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ELAN shares. Barclays reduced their price objective on shares of 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 dropped their price target on shares of Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Stifel Nicolaus upped their price target on shares of Elanco Animal Health from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Monday. Piper Sandler dropped 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 research note on Thursday, March 6th. Finally, UBS Group cut their price target on shares of 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $15.17.

Elanco Animal Health Trading Down 1.1%

NYSE ELAN traded down $0.14 during trading on Tuesday, hitting $13.08. 5,913,007 shares of the company's stock traded hands, compared to its average volume of 5,055,949. The stock has a fifty day moving average of $10.16 and a two-hundred day moving average of $11.44. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. Elanco Animal Health Incorporated has a 12-month low of $8.02 and a 12-month high of $18.80. The firm has a market cap of $6.50 billion, a P/E ratio of 32.70, a PEG ratio of 2.50 and a beta of 1.49.

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 (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.06. The company had revenue of $1.19 billion for 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%. Elanco Animal Health's quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. As a group, sell-side analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

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.