Fmr LLC Sells 228,450 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Fmr LLC trimmed its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 6.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,209,436 shares of the company’s stock after selling 228,450 shares during the period. Fmr LLC owned 0.65% of Elanco Animal Health worth $47,147,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Magnetar Financial LLC boosted its stake in shares of Elanco Animal Health by 61.2% during the second quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock valued at $120,298,000 after purchasing an additional 3,164,350 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Elanco Animal Health by 6.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,385,467 shares of the company’s stock worth $93,803,000 after buying an additional 394,921 shares during the period. Canada Pension Plan Investment Board bought a new stake in Elanco Animal Health during the 2nd quarter worth approximately $55,599,000. Douglas Lane & Associates LLC increased its position in Elanco Animal Health by 1.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 3,767,784 shares of the company’s stock valued at $55,349,000 after acquiring an additional 37,349 shares during the period. Finally, Brandes Investment Partners LP increased its position in Elanco Animal Health by 1.3% in the 2nd quarter. Brandes Investment Partners LP now owns 2,945,967 shares of the company’s stock valued at $42,445,000 after acquiring an additional 36,944 shares during the period. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Performance

Shares of ELAN stock opened at $12.50 on Friday. The firm has a 50 day moving average of $13.43 and a 200-day moving average of $14.47. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. Elanco Animal Health Incorporated has a 52 week low of $11.40 and a 52 week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the company posted $0.18 earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts forecast that Elanco Animal Health Incorporated will post 0.92 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on ELAN shares. Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $17.00 to $15.00 in a research report on Thursday, September 19th. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 target price on shares of Elanco Animal Health in a report on Thursday, September 19th. Barclays raised their price target on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Leerink Partners started coverage on shares of Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $16.57.

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.