Elanco Animal Health Incorporated (NYSE:ELAN) Stake Lowered by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its stake in shares of Elanco Animal Health Incorporated (NYSE:ELANFree Report) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,971 shares of the company’s stock after selling 1,249 shares during the period. Corient Private Wealth LLC’s holdings in Elanco Animal Health were worth $610,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Acadian Asset Management LLC purchased a new position in shares of Elanco Animal Health during the 3rd quarter valued at $95,000. C M Bidwell & Associates Ltd. bought a new stake in Elanco Animal Health in the third quarter worth $129,000. Innovis Asset Management LLC bought a new stake in Elanco Animal Health in the third quarter worth $144,000. HBK Sorce Advisory LLC bought a new stake in Elanco Animal Health in the fourth quarter worth $169,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Elanco Animal Health by 10.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,123 shares of the company’s stock worth $181,000 after purchasing an additional 1,127 shares in the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director William F. Doyle acquired 15,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average price of $16.98 per share, with a total value of $254,700.00. Following the completion of the transaction, the director now owns 76,330 shares of the company’s stock, valued at $1,296,083.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by company insiders.

Elanco Animal Health Stock Up 1.4 %

ELAN stock opened at $18.45 on Thursday. The company has a 50-day moving average of $15.42 and a two-hundred day moving average of $15.03. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of -6.96, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.29 and a quick ratio of 1.96. Elanco Animal Health Incorporated has a 52-week low of $8.52 and a 52-week high of $18.65.

Elanco Animal Health (NYSE:ELANGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. Elanco Animal Health had a negative net margin of 29.83% and a positive return on equity of 5.98%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. As a group, equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ELAN shares. The Goldman Sachs Group upped their price objective on shares of Elanco Animal Health from $12.50 to $14.00 and gave the stock a “sell” rating in a report on Tuesday, February 27th. Piper Sandler reiterated a “neutral” rating and issued a $19.00 price objective (up from $18.00) on shares of Elanco Animal Health in a report on Monday, May 13th. Morgan Stanley upped their price objective on shares of Elanco Animal Health from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Barclays upped their price target on shares of Elanco Animal Health from $19.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Finally, TheStreet upgraded shares of Elanco Animal Health from a “d+” rating to a “c-” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Elanco Animal Health currently has an average rating of “Moderate Buy” and a consensus target price of $18.29.

View Our Latest Stock Analysis on Elanco Animal Health

About Elanco Animal Health

(Free Report)

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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