Goldman Sachs Group Inc. Sells 4,307,126 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Goldman Sachs Group Inc. reduced its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 77.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,218,735 shares of the company’s stock after selling 4,307,126 shares during the period. Goldman Sachs Group Inc. owned about 0.25% of Elanco Animal Health worth $18,159,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp bought a new position in shares of Elanco Animal Health in the fourth quarter valued at $37,000. Tower Research Capital LLC TRC raised its holdings in shares of Elanco Animal Health by 169.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,212 shares of the company’s stock valued at $93,000 after purchasing an additional 3,906 shares during the period. Acadian Asset Management LLC acquired a new stake in Elanco Animal Health in the 3rd quarter valued at about $95,000. HBK Sorce Advisory LLC bought a new position in Elanco Animal Health during the fourth quarter worth about $169,000. Finally, Allspring Global Investments Holdings LLC increased its position in Elanco Animal Health by 10.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,123 shares of the company’s stock worth $181,000 after buying an additional 1,127 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director William F. Doyle bought 15,000 shares of the stock in a transaction that occurred 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 completion of the purchase, the director now directly owns 76,330 shares of the company’s stock, valued at $1,296,083.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is currently owned by insiders.

Elanco Animal Health Stock Performance

NYSE ELAN opened at $14.28 on Friday. Elanco Animal Health Incorporated has a 1 year low of $8.52 and a 1 year high of $18.80. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of -5.39, a P/E/G ratio of 1.73 and a beta of 1.45. 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 simple moving average is $16.40 and its 200 day simple moving average is $15.66.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Wednesday, May 8th. The company reported $0.34 EPS for the quarter, topping 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 revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 earnings per share. As a group, research analysts expect that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays lifted their target price on shares of Elanco Animal Health from $19.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Piper Sandler reiterated 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. 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $18.29.

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.