Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 10.7% in the fourth quarter, Holdings Channel reports. The fund owned 655,964 shares of the company’s stock after selling 78,887 shares during the period. Legal & General Group Plc’s holdings in Elanco Animal Health were worth $7,944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Elanco Animal Health in the 3rd quarter worth $35,000. Jones Financial Companies Lllp boosted its holdings in Elanco Animal Health by 95.6% in the 4th quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company’s stock valued at $51,000 after purchasing an additional 2,059 shares in the last quarter. SRS Capital Advisors Inc. increased its position in Elanco Animal Health by 221.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 4,953 shares of the company’s stock worth $60,000 after purchasing an additional 3,411 shares during the period. MRP Capital Investments LLC purchased a new position in shares of Elanco Animal Health during the 4th quarter worth approximately $61,000. Finally, Blue Trust Inc. boosted its stake in shares of Elanco Animal Health by 47.7% in the fourth quarter. Blue Trust Inc. now owns 5,862 shares of the company’s stock valued at $71,000 after buying an additional 1,894 shares in the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Morgan Stanley reduced their target price on 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. Piper Sandler reduced their price target on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Barclays lowered their price target on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. UBS Group dropped their price target on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus lowered their price objective on shares of Elanco Animal Health from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.67.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN opened at $8.44 on Friday. The business has a fifty day simple moving average of $10.26 and a 200-day simple moving average of $11.84. Elanco Animal Health Incorporated has a 52 week low of $8.02 and a 52 week high of $18.80. The company has a market cap of $4.19 billion, a P/E ratio of 21.11, a P/E/G ratio of 2.50 and a beta of 1.44. 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 (NYSE:ELAN) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 EPS. Equities research analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Insider Activity

In related news, Director Lawrence Erik Kurzius acquired 10,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $10.20 per share, with a total value of $102,000.00. Following the completion of the transaction, the director now directly owns 111,459 shares of the company’s stock, valued at $1,136,881.80. This trade represents a 9.86 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.89% of the company’s stock.

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.