Treasurer of the State of North Carolina Purchases 115,290 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Treasurer of the State of North Carolina boosted its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 53.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 330,391 shares of the company's stock after purchasing an additional 115,290 shares during the period. Treasurer of the State of North Carolina owned about 0.07% of Elanco Animal Health worth $4,001,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ELAN. Steward Partners Investment Advisory LLC increased its position in Elanco Animal Health by 28.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,264 shares of the company's stock valued at $124,000 after acquiring an additional 2,264 shares in the last quarter. DDD Partners LLC bought a new position in Elanco Animal Health in the 4th quarter worth approximately $5,974,000. Geode Capital Management LLC lifted its holdings in Elanco Animal Health by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company's stock worth $115,623,000 after buying an additional 65,303 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Elanco Animal Health by 24.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,084,629 shares of the company's stock valued at $13,135,000 after buying an additional 209,734 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Elanco Animal Health by 14.0% in the 3rd quarter. Franklin Resources Inc. now owns 372,230 shares of the company's stock valued at $5,349,000 after buying an additional 45,795 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on ELAN. UBS Group decreased their price target on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Barclays dropped their price target 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. Stifel Nicolaus reduced their price target 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. Morgan Stanley cut their target price on 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. Finally, 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Elanco Animal Health currently has an average rating of "Hold" and a consensus price target of $14.67.

Elanco Animal Health Stock Up 0.1 %

Shares of ELAN traded up $0.01 on Monday, hitting $8.45. The company's stock had a trading volume of 532,097 shares, compared to its average volume of 4,898,894. 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 firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 2.50 and a beta of 1.44. The firm's fifty day moving average price is $10.26 and its 200-day moving average price is $11.81. Elanco Animal Health Incorporated has a fifty-two week low of $8.02 and a fifty-two week high of $18.80.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $1.02 billion for 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 firm's quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 earnings per share. On average, equities research analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Insiders Place Their Bets

In related news, Director Lawrence Erik Kurzius bought 10,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price 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. The trade was a 9.86 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.89% of the company's stock.

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.