Pinebridge Investments L.P. Acquires 29,040 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Pinebridge Investments L.P. raised its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELANFree Report) by 65.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,278 shares of the company’s stock after purchasing an additional 29,040 shares during the period. Pinebridge Investments L.P.’s holdings in Elanco Animal Health were worth $1,092,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ELAN. Primecap Management Co. CA raised its holdings in shares of Elanco Animal Health by 2.9% during the fourth quarter. Primecap Management Co. CA now owns 50,600,324 shares of the company’s stock valued at $753,945,000 after acquiring an additional 1,431,665 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Elanco Animal Health by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 49,001,441 shares of the company’s stock worth $550,776,000 after purchasing an additional 362,152 shares during the period. Black Creek Investment Management Inc. boosted its stake in shares of Elanco Animal Health by 12.8% during the 3rd quarter. Black Creek Investment Management Inc. now owns 15,523,457 shares of the company’s stock valued at $174,484,000 after purchasing an additional 1,759,556 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Elanco Animal Health by 33.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,095,179 shares of the company’s stock valued at $224,920,000 after buying an additional 3,816,514 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Elanco Animal Health by 12.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 5,625,707 shares of the company’s stock worth $83,823,000 after buying an additional 622,696 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analyst Upgrades and Downgrades

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

Read Our Latest Stock Report on Elanco Animal Health

Elanco Animal Health Stock Down 0.3 %

NYSE:ELAN opened at $18.21 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.96 and a current ratio of 3.29. The firm has a market cap of $9.00 billion, a P/E ratio of -6.87, a P/E/G ratio of 1.76 and a beta of 1.45. Elanco Animal Health Incorporated has a fifty-two week low of $8.52 and a fifty-two week high of $18.65. The firm has a 50-day simple moving average of $15.55 and a two-hundred day simple moving average of $15.12.

Elanco Animal Health (NYSE:ELANGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share. Analysts predict that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current fiscal year.

Insider Activity at Elanco Animal Health

In other Elanco Animal Health news, Director William F. Doyle bought 15,000 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 76,330 shares in the company, valued at $1,296,083.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is currently owned by insiders.

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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