ING Groep NV Takes Position in Elanco Animal Health Incorporated (NYSE:ELAN)

ING Groep NV bought a new position in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 71,300 shares of the company's stock, valued at approximately $1,062,000.

Several other large investors also recently bought and sold shares of ELAN. Teacher Retirement System of Texas grew its position in Elanco Animal Health by 122.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 137,701 shares of the company's stock worth $1,548,000 after purchasing an additional 75,889 shares during the last quarter. Principal Financial Group Inc. grew its position in Elanco Animal Health by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 101,082 shares of the company's stock worth $1,136,000 after purchasing an additional 4,783 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Elanco Animal Health by 4.8% in the 3rd quarter. California Public Employees Retirement System now owns 925,466 shares of the company's stock valued at $10,402,000 after acquiring an additional 42,170 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Elanco Animal Health by 3.3% in the 3rd quarter. Private Advisor Group LLC now owns 134,902 shares of the company's stock valued at $1,516,000 after acquiring an additional 4,315 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC purchased a new stake in shares of Elanco Animal Health in the 3rd quarter valued at $482,000. Hedge funds and other institutional investors own 97.48% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ELAN shares. The Goldman Sachs Group upped their price objective on shares of Elanco Animal Health from $12.50 to $14.00 and gave the company a "sell" rating in a report on Tuesday, February 27th. Morgan Stanley upped their price objective on shares of Elanco Animal Health from $16.00 to $17.00 and gave the company an "overweight" rating in a report on Tuesday, February 27th. TheStreet raised shares of Elanco Animal Health from a "d+" rating to a "c-" rating in a report on Friday, February 23rd. Piper Sandler reaffirmed a "neutral" rating and issued a $19.00 price objective (up from $18.00) on shares of Elanco Animal Health in a report on Monday, May 13th. Finally, Barclays upped their price objective on shares of Elanco Animal Health from $19.00 to $23.00 and gave the company an "overweight" rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Elanco Animal Health presently has a consensus rating of "Moderate Buy" and an average target price of $18.29.

Elanco Animal Health Price Performance

NYSE:ELAN traded up $0.23 during trading hours on Wednesday, reaching $16.93. 6,260,330 shares of the company were exchanged, compared to its average volume of 4,527,419. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.95. The stock's 50-day moving average is $15.15 and its 200-day moving average is $14.58. The firm has a market cap of $8.37 billion, a PE ratio of -6.39, a price-to-earnings-growth ratio of 1.74 and a beta of 1.34. Elanco Animal Health Incorporated has a twelve month low of $7.88 and a twelve month high of $17.43.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.08. The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.18 billion. Elanco Animal Health had a negative net margin of 29.83% and a positive return on equity of 5.98%. The firm's revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. On average, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Elanco Animal Health news, Director R David Hoover bought 20,000 shares of Elanco Animal Health stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of $16.14 per share, for a total transaction of $322,800.00. Following the completion of the transaction, the director now directly owns 185,000 shares of the company's stock, valued at $2,985,900. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by company insiders.

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.