Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 0.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,323,246 shares of the company’s stock after selling 437,731 shares during the quarter. Vanguard Group Inc. owned about 9.73% of Elanco Animal Health worth $507,394,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ELAN. Freestone Grove Partners LP acquired a new stake in Elanco Animal Health during the 4th quarter valued at approximately $20,396,000. Dimensional Fund Advisors LP grew its stake in Elanco Animal Health by 6.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,900,987 shares of the company’s stock valued at $216,774,000 after purchasing an additional 1,074,274 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Elanco Animal Health by 148.8% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,741,308 shares of the company’s stock valued at $21,087,000 after purchasing an additional 1,041,308 shares in the last quarter. DDD Partners LLC grew its stake in Elanco Animal Health by 202.7% during the 1st quarter. DDD Partners LLC now owns 1,492,992 shares of the company’s stock valued at $15,676,000 after purchasing an additional 999,716 shares in the last quarter. Finally, Shapiro Capital Management LLC grew its stake in Elanco Animal Health by 7.5% during the 4th quarter. Shapiro Capital Management LLC now owns 12,356,702 shares of the company’s stock valued at $149,640,000 after purchasing an additional 862,900 shares in the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Leerink Partners upgraded Elanco Animal Health from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a research note on Thursday, July 17th. Leerink Partnrs upgraded Elanco Animal Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 17th. Stifel Nicolaus lifted their target price on Elanco Animal Health from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. UBS Group lifted their target price on Elanco Animal Health from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded Elanco Animal Health from a “hold” rating to a “buy” rating in a research report on Saturday, July 5th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Elanco Animal Health has an average rating of “Moderate Buy” and an average target price of $17.33.

Elanco Animal Health Trading Up 1.0%

Shares of NYSE ELAN opened at $17.99 on Friday. The company has a market cap of $8.94 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 3.31 and a beta of 1.66. Elanco Animal Health Incorporated has a 12-month low of $8.02 and a 12-month high of $18.00. The company has a current ratio of 2.60, a quick ratio of 1.40 and a debt-to-equity ratio of 0.61. The stock’s 50 day simple moving average is $14.65 and its 200 day simple moving average is $12.23.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. Elanco Animal Health had a return on equity of 7.04% and a net margin of 9.68%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. Equities research analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

About Elanco Animal Health

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.