HighTower Advisors LLC Reduces Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

HighTower Advisors LLC lowered its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 27.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,635 shares of the company’s stock after selling 4,484 shares during the quarter. HighTower Advisors LLC’s holdings in Elanco Animal Health were worth $141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its stake in shares of Elanco Animal Health by 28.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,264 shares of the company’s stock valued at $124,000 after purchasing an additional 2,264 shares in the last quarter. DDD Partners LLC bought a new position in Elanco Animal Health during the 4th quarter valued at approximately $5,974,000. Geode Capital Management LLC raised its stake in Elanco Animal Health by 0.8% during the third quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock valued at $115,623,000 after buying an additional 65,303 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Elanco Animal Health by 24.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,084,629 shares of the company’s stock worth $13,135,000 after acquiring an additional 209,734 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Elanco Animal Health by 19.2% in the third quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock worth $58,875,000 after acquiring an additional 646,522 shares during the last quarter. 97.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays lowered their price target on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus dropped their target price on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. UBS Group cut their price target on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Morgan Stanley decreased their price objective on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, Piper Sandler cut their target price on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Elanco Animal Health currently has a consensus rating of “Hold” and an average price target of $15.17.

Insider Activity at Elanco Animal Health

In related news, Director Lawrence Erik Kurzius purchased 10,000 shares of Elanco Animal Health stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the transaction, the director now directly owns 101,459 shares in the company, valued at $1,105,903.10. This represents a 10.93 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Elanco Animal Health Trading Down 5.7 %

Shares of ELAN stock opened at $9.17 on Friday. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. Elanco Animal Health Incorporated has a 12-month low of $8.80 and a 12-month high of $18.80. The stock has a market capitalization of $4.55 billion, a P/E ratio of 22.91, a P/E/G ratio of 2.50 and a beta of 1.44. The firm’s 50 day moving average is $11.04 and its 200 day moving average is $12.30.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the business earned $0.08 earnings per share. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Research analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share 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.