Renaissance Technologies LLC Has $760,000 Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Renaissance Technologies LLC trimmed its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 86.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,767 shares of the company’s stock after selling 416,777 shares during the quarter. Renaissance Technologies LLC’s holdings in Elanco Animal Health were worth $760,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hillsdale Investment Management Inc. raised its stake in shares of Elanco Animal Health by 2.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company’s stock worth $524,000 after purchasing an additional 900 shares during the last quarter. Arizona State Retirement System raised its position in Elanco Animal Health by 0.8% in the 4th quarter. Arizona State Retirement System now owns 143,462 shares of the company’s stock valued at $1,737,000 after buying an additional 1,166 shares during the last quarter. MTM Investment Management LLC lifted its stake in Elanco Animal Health by 9.3% during the 4th quarter. MTM Investment Management LLC now owns 14,168 shares of the company’s stock valued at $172,000 after acquiring an additional 1,200 shares in the last quarter. Blue Trust Inc. boosted its holdings in Elanco Animal Health by 47.7% during the fourth quarter. Blue Trust Inc. now owns 5,862 shares of the company’s stock worth $71,000 after purchasing an additional 1,894 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in Elanco Animal Health by 95.6% in the 4th quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company’s stock valued at $51,000 after buying an additional 2,059 shares during the last quarter. 97.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius bought 10,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $10.20 per share, with a total value of $102,000.00. Following the completion of the purchase, the director now directly owns 111,459 shares of the company’s stock, valued at $1,136,881.80. This trade represents a 9.86 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.89% of the stock is currently owned by company insiders.

Elanco Animal Health Stock Performance

Shares of ELAN stock opened at $9.48 on Friday. The firm’s 50 day moving average is $9.90 and its 200 day moving average is $11.52. The stock has a market capitalization of $4.70 billion, a P/E ratio of 23.69, a PEG ratio of 2.50 and a beta of 1.44. Elanco Animal Health Incorporated has a 12 month low of $8.02 and a 12 month high of $18.80. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. On average, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ELAN shares. Piper Sandler reduced their target price on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Barclays reduced their price objective on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. UBS Group decreased their price objective on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Morgan Stanley dropped their target price on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus decreased their price target on shares of Elanco Animal Health from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Elanco Animal Health currently has a consensus rating of “Hold” and a consensus target price of $14.67.

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.