Ensign Peak Advisors Inc Reduces Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Ensign Peak Advisors Inc trimmed its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 12.8% in the fourth quarter, HoldingsChannel reports. The firm owned 1,026,520 shares of the company’s stock after selling 150,917 shares during the period. Ensign Peak Advisors Inc’s holdings in Elanco Animal Health were worth $12,431,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. FMR LLC boosted its position in Elanco Animal Health by 1,153.6% during the fourth quarter. FMR LLC now owns 40,232,327 shares of the company’s stock worth $487,213,000 after acquiring an additional 37,022,891 shares during the last quarter. Norges Bank acquired a new stake in Elanco Animal Health during the fourth quarter worth approximately $47,424,000. Brandes Investment Partners LP boosted its position in Elanco Animal Health by 66.9% during the fourth quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company’s stock worth $69,405,000 after acquiring an additional 2,296,691 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in Elanco Animal Health during the fourth quarter worth approximately $20,396,000. Finally, Magnetar Financial LLC boosted its position in Elanco Animal Health by 13.7% during the fourth quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company’s stock worth $145,711,000 after acquiring an additional 1,454,082 shares during the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Elanco Animal Health

In other news, Director Lawrence Erik Kurzius purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $10.90 per share, with a total value of $109,000.00. Following the purchase, the director now directly owns 101,459 shares of the company’s stock, valued at approximately $1,105,903.10. This represents a 10.93% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

ELAN has been the topic of a number of analyst reports. UBS Group decreased their target price on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler decreased their target price on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Stifel Nicolaus raised their target price on shares of Elanco Animal Health from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays decreased their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley decreased their price target on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.00.

Elanco Animal Health Stock Performance

NYSE:ELAN opened at $12.02 on Monday. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 2.50 and a beta of 1.49. The firm’s fifty day simple moving average is $9.89 and its 200 day simple moving average is $11.42. Elanco Animal Health Incorporated has a twelve month low of $8.02 and a twelve month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Wednesday, May 7th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.06. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. As a group, equities research analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal 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.