Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Perpetual Ltd

Perpetual Ltd reduced its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 9.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,041,160 shares of the company’s stock after selling 113,840 shares during the quarter. Perpetual Ltd owned approximately 0.21% of Elanco Animal Health worth $16,836,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Primecap Management Co. CA grew its holdings in shares of Elanco Animal Health by 2.9% in the fourth quarter. Primecap Management Co. CA now owns 50,600,324 shares of the company’s stock valued at $753,945,000 after purchasing an additional 1,431,665 shares during the period. Vanguard Group Inc. grew its stake in shares of Elanco Animal Health by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock valued at $737,083,000 after buying an additional 467,196 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Elanco Animal Health by 33.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,095,179 shares of the company’s stock worth $224,920,000 after buying an additional 3,816,514 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Elanco Animal Health by 12.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 5,625,707 shares of the company’s stock valued at $83,823,000 after buying an additional 622,696 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Elanco Animal Health by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,732,872 shares of the company’s stock valued at $70,520,000 after acquiring an additional 21,692 shares during the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ELAN. Barclays raised their target price on Elanco Animal Health from $19.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. The Goldman Sachs Group boosted their price objective on shares of Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a report on Tuesday, February 27th. Piper Sandler reaffirmed a “neutral” rating and set a $19.00 target price (up previously from $18.00) on shares of Elanco Animal Health in a research note on Monday, May 13th. TheStreet raised shares of Elanco Animal Health from a “d+” rating to a “c-” rating in a research note on Friday, February 23rd. Finally, 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.29.

Insider Transactions at Elanco Animal Health

In related news, Director William F. Doyle bought 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average cost of $16.98 per share, for a total transaction of $254,700.00. Following the completion of the acquisition, the director now owns 76,330 shares in the company, valued at approximately $1,296,083.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN opened at $18.20 on Friday. Elanco Animal Health Incorporated has a 1 year low of $8.52 and a 1 year high of $18.80. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.95. The firm’s 50-day moving average is $16.05 and its two-hundred day moving average is $15.51.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 earnings per share. Analysts anticipate that Elanco Animal Health Incorporated will post 0.93 EPS for the current year.

Elanco Animal Health Company 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.