Russell Investments Group Ltd. Grows Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Russell Investments Group Ltd. lifted its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN – Get Rating) by 3.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 476,805 shares of the company’s stock after buying an additional 16,295 shares during the period. Russell Investments Group Ltd. owned approximately 0.10% of Elanco Animal Health worth $5,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in Elanco Animal Health by 22.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 27,030,888 shares of the company’s stock valued at $335,454,000 after purchasing an additional 4,872,640 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in shares of Elanco Animal Health during the first quarter worth about $83,259,000. The Manufacturers Life Insurance Company boosted its stake in shares of Elanco Animal Health by 286.5% during the third quarter. The Manufacturers Life Insurance Company now owns 4,062,666 shares of the company’s stock worth $50,430,000 after buying an additional 3,011,622 shares during the period. BlackRock Inc. boosted its stake 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 worth $684,027,000 after buying an additional 1,631,045 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake 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 worth $315,825,000 after buying an additional 1,541,163 shares during the period.

Wall Street Analyst Weigh In

ELAN has been the subject of several recent research reports. Piper Sandler decreased their target price on shares of Elanco Animal Health from $15.00 to $12.00 in a research note on Thursday, March 2nd. Morgan Stanley reduced their price objective on shares of Elanco Animal Health from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, January 30th. Finally, Barclays upgraded shares of Elanco Animal Health from an “equal weight” rating to an “overweight” rating and set a $14.00 price target for the company in a research report on Thursday, April 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $16.50.

Elanco Animal Health Stock Performance

NYSE ELAN opened at $8.90 on Tuesday. Elanco Animal Health Incorporated has a 1-year low of $8.50 and a 1-year high of $24.93. The company has a market capitalization of $4.38 billion, a P/E ratio of -59.33, a PEG ratio of 6.34 and a beta of 0.92. The business has a 50 day moving average price of $9.33 and a 200 day moving average price of $11.49. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.93 and a quick ratio of 1.02.

Elanco Animal Health (NYSE:ELAN – Get Rating) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.18 billion. Elanco Animal Health had a positive return on equity of 7.57% and a negative net margin of 1.74%. Elanco Animal Health’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. Sell-side analysts expect that Elanco Animal Health Incorporated will post 0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jeffrey N. Simmons purchased 15,000 shares of the company’s stock in a transaction on Friday, March 10th. The stock was bought at an average price of $9.60 per share, with a total value of $144,000.00. Following the completion of the transaction, the chief executive officer now owns 45,000 shares of the company’s stock, valued at approximately $432,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Elanco Animal Health news, Director R David Hoover acquired 10,000 shares of the stock in a transaction dated Friday, March 3rd. The stock was acquired at an average price of $11.13 per share, with a total value of $111,300.00. Following the completion of the transaction, the director now directly owns 155,000 shares in the company, valued at $1,725,150. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey N. Simmons acquired 15,000 shares of the stock in a transaction dated Friday, March 10th. The stock was acquired at an average cost of $9.60 per share, with a total value of $144,000.00. Following the transaction, the chief executive officer now owns 45,000 shares of the company’s stock, valued at $432,000. The disclosure for this purchase can be found here. 0.64% of the stock is currently owned by company insiders.

Elanco Animal Health Profile

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Elanco Animal Health, Inc innovates, develops, manufactures, and markets products for pets and farm animals. It offers products through the following four categories: Companion Animal Disease Prevention, Companion Animal Therapeutics, Food Animal Future Protein & Health, and Food Animal Ruminants & Swine.