Pinnacle Associates Ltd. Reduces Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Pinnacle Associates Ltd. lessened its stake in shares of Elanco Animal Health Incorporated (NYSE:ELANGet Rating) by 49.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,985 shares of the company’s stock after selling 39,705 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Elanco Animal Health were worth $496,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Dodge & Cox lifted its holdings in Elanco Animal Health by 72.1% during the second quarter. Dodge & Cox now owns 49,206,190 shares of the company’s stock valued at $965,918,000 after purchasing an additional 20,618,487 shares in the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of Elanco Animal Health by 110.8% during the second quarter. Ontario Teachers Pension Plan Board now owns 6,726,521 shares of the company’s stock valued at $132,042,000 after buying an additional 3,535,308 shares during the last quarter. BlackRock Inc. raised its position in shares of Elanco Animal Health by 6.6% during the first quarter. BlackRock Inc. now owns 26,217,917 shares of the company’s stock valued at $684,027,000 after buying an additional 1,631,045 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Elanco Animal Health by 14.6% during the first quarter. Goldman Sachs Group Inc. now owns 12,105,226 shares of the company’s stock valued at $315,825,000 after buying an additional 1,541,163 shares during the last quarter. Finally, Amundi raised its position in shares of Elanco Animal Health by 9.2% during the second quarter. Amundi now owns 15,571,115 shares of the company’s stock valued at $305,349,000 after buying an additional 1,313,013 shares during the last quarter.

Elanco Animal Health Stock Down 1.1 %

Shares of ELAN opened at $13.08 on Tuesday. The firm has a market capitalization of $6.20 billion, a P/E ratio of -54.50, a P/E/G ratio of 6.56 and a beta of 0.90. Elanco Animal Health Incorporated has a 12-month low of $11.18 and a 12-month high of $29.66. The company has a current ratio of 1.96, a quick ratio of 1.12 and a debt-to-equity ratio of 0.82. The firm has a fifty day moving average price of $12.46 and a 200-day moving average price of $14.82.

Elanco Animal Health (NYSE:ELANGet Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.04. Elanco Animal Health had a negative net margin of 2.64% and a positive return on equity of 7.65%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Equities research analysts expect that Elanco Animal Health Incorporated will post 1.04 earnings per share for the current year.

Insider Buying and Selling

In other Elanco Animal Health news, Director John P. Bilbrey purchased 7,500 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The shares were bought at an average price of $13.24 per share, for a total transaction of $99,300.00. Following the acquisition, the director now owns 41,722 shares in the company, valued at $552,399.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ELAN has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Elanco Animal Health from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, October 17th. TheStreet cut shares of Elanco Animal Health from a “c-” rating to a “d+” rating in a research report on Tuesday, October 4th. William Blair restated a “market perform” rating on shares of Elanco Animal Health in a research report on Tuesday, November 8th. Piper Sandler reduced their price target on shares of Elanco Animal Health from $21.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday, November 14th. Finally, The Goldman Sachs Group reduced their price target on shares of Elanco Animal Health from $19.00 to $12.00 and set a “sell” rating on the stock in a research report on Wednesday, November 9th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, Elanco Animal Health presently has an average rating of “Hold” and an average price target of $17.83.

About Elanco Animal Health

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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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Institutional Ownership by Quarter for Elanco Animal Health (NYSE:ELAN)

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