Bank of New York Mellon Corp Has $24.31 Million Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Bank of New York Mellon Corp lowered its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 3.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,007,629 shares of the company’s stock after selling 69,504 shares during the period. Bank of New York Mellon Corp owned 0.41% of Elanco Animal Health worth $24,312,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of ELAN. DDD Partners LLC bought a new stake in Elanco Animal Health during the 4th quarter valued at $5,974,000. Geode Capital Management LLC boosted its holdings in shares of Elanco Animal Health by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock worth $115,623,000 after buying an additional 65,303 shares during the last quarter. Atom Investors LP boosted its holdings in shares of Elanco Animal Health by 310.3% in the 3rd quarter. Atom Investors LP now owns 345,855 shares of the company’s stock worth $5,081,000 after buying an additional 261,559 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Elanco Animal Health by 24.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,084,629 shares of the company’s stock valued at $13,135,000 after purchasing an additional 209,734 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Elanco Animal Health by 19.2% during the third quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock valued at $58,875,000 after purchasing an additional 646,522 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Up 2.7 %

Shares of NYSE ELAN opened at $11.12 on Monday. Elanco Animal Health Incorporated has a one year low of $10.20 and a one year high of $18.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The firm’s 50 day simple moving average is $11.62 and its two-hundred day simple moving average is $12.89. The stock has a market capitalization of $5.50 billion, a P/E ratio of 27.80, a PEG ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business posted $0.08 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on ELAN. Leerink Partners began coverage on shares of Elanco Animal Health in a report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price objective on the stock. Morgan Stanley dropped their price objective 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. Piper Sandler lowered their price target on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday. Barclays lowered their price target on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Stifel Nicolaus lowered their price target on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.17.

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.