Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 86.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,767 shares of the company's stock after selling 416,777 shares during the quarter. Renaissance Technologies LLC's holdings in Elanco Animal Health were worth $760,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in ELAN. FMR LLC boosted its holdings in Elanco Animal Health by 1,153.6% in the fourth 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. Magnetar Financial LLC grew its position in shares of Elanco Animal Health by 13.7% during the fourth quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company's stock worth $145,711,000 after buying an additional 1,454,082 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Elanco Animal Health by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 8,180,840 shares of the company's stock worth $99,102,000 after buying an additional 312,165 shares during the period. Brandes Investment Partners LP raised its holdings in Elanco Animal Health by 66.9% in the fourth quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company's stock valued at $69,405,000 after acquiring an additional 2,296,691 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Elanco Animal Health by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,687,610 shares of the company's stock worth $56,767,000 after acquiring an additional 162,994 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company's stock.

Insider Activity

In related news, Director Lawrence Erik Kurzius bought 10,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $1,136,881.80. This trade represents a 9.86 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.89% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ELAN shares. Stifel Nicolaus cut their target price on Elanco Animal Health from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. UBS Group reduced their price objective on shares of Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Barclays cut their price target on shares of 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. Piper Sandler decreased their target price 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. Finally, Morgan Stanley cut their price target 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $14.67.

Elanco Animal Health Price Performance

Shares of ELAN traded up $0.28 during mid-day trading on Friday, hitting $9.75. The company's stock had a trading volume of 3,509,607 shares, compared to its average volume of 4,948,857. Elanco Animal Health Incorporated has a 1-year low of $8.02 and a 1-year high of $18.80. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The firm has a 50-day simple moving average of $9.89 and a 200 day simple moving average of $11.47. The firm has a market capitalization of $4.84 billion, a P/E ratio of 24.36, a P/E/G ratio of 2.50 and a beta of 1.49.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business's revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. Analysts predict 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.