Allspring Global Investments Holdings LLC Increases Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Allspring Global Investments Holdings LLC grew its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 10.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,123 shares of the company’s stock after purchasing an additional 1,127 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Elanco Animal Health were worth $181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in shares of Elanco Animal Health in the third quarter valued at about $37,912,000. Ancora Advisors LLC purchased a new stake in Elanco Animal Health in the 3rd quarter worth approximately $37,189,000. Black Creek Investment Management Inc. grew its position in shares of Elanco Animal Health by 12.8% in the 3rd quarter. Black Creek Investment Management Inc. now owns 15,523,457 shares of the company’s stock worth $174,484,000 after buying an additional 1,759,556 shares during the last quarter. Barclays PLC increased its stake in shares of Elanco Animal Health by 334.7% during the third quarter. Barclays PLC now owns 1,529,134 shares of the company’s stock valued at $17,188,000 after buying an additional 1,177,403 shares during the period. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Elanco Animal Health during the third quarter valued at approximately $10,084,000. Institutional investors own 97.48% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Stifel Nicolaus upgraded shares of Elanco Animal Health from a “hold” rating to a “buy” rating and lifted their price target for the company from $13.00 to $20.00 in a report on Friday, January 5th. Morgan Stanley increased their price target on shares of Elanco Animal Health from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. TheStreet upgraded shares of Elanco Animal Health from a “d+” rating to a “c-” rating in a report on Friday, February 23rd. The Goldman Sachs Group upped their target price on Elanco Animal Health from $12.50 to $14.00 and gave the stock a “sell” rating in a report on Tuesday, February 27th. Finally, Barclays raised their target price on Elanco Animal Health from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. 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. According to MarketBeat.com, Elanco Animal Health has an average rating of “Moderate Buy” and an average target price of $16.71.

Insider Activity

In other news, Director R David Hoover purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $16.14 per share, for a total transaction of $322,800.00. Following the purchase, the director now directly owns 185,000 shares in the company, valued at approximately $2,985,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.40% of the company’s stock.

Elanco Animal Health Price Performance

Shares of NYSE ELAN opened at $13.26 on Friday. The company has a 50 day simple moving average of $15.36 and a two-hundred day simple moving average of $13.79. Elanco Animal Health Incorporated has a fifty-two week low of $7.88 and a fifty-two week high of $16.88. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of -5.30, a P/E/G ratio of 1.37 and a beta of 1.29. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.75.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. Elanco Animal Health had a negative net margin of 27.87% and a positive return on equity of 6.44%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the business earned $0.19 EPS. Analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Elanco Animal Health Profile

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.