Elanco Animal Health Incorporated (NYSE:ELAN) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,868,675 shares of the company’s stock after purchasing an additional 65,303 shares during the period. Geode Capital Management LLC’s holdings in Elanco Animal Health were worth $115,623,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp grew its stake in Elanco Animal Health by 5.9% during the 3rd quarter. M&T Bank Corp now owns 26,407 shares of the company’s stock valued at $388,000 after purchasing an additional 1,464 shares in the last quarter. MML Investors Services LLC boosted its stake in shares of Elanco Animal Health by 31.4% during the 3rd quarter. MML Investors Services LLC now owns 15,454 shares of the company’s stock valued at $227,000 after buying an additional 3,692 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in shares of Elanco Animal Health by 8.1% during the third quarter. Orion Portfolio Solutions LLC now owns 29,227 shares of the company’s stock worth $429,000 after buying an additional 2,195 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Elanco Animal Health by 6.5% in the third quarter. XTX Topco Ltd now owns 69,061 shares of the company’s stock worth $1,015,000 after buying an additional 4,239 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in 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 valued at $58,875,000 after acquiring an additional 646,522 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Trading Up 1.4 %

Shares of NYSE ELAN opened at $12.31 on Wednesday. Elanco Animal Health Incorporated has a 12-month low of $11.40 and a 12-month high of $18.80. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The stock’s 50 day simple moving average is $13.13 and its 200 day simple moving average is $14.22.

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

Analysts Set New Price Targets

Several research analysts have weighed in on ELAN shares. UBS Group began coverage on shares of Elanco Animal Health in a report on Monday, December 9th. They set a “buy” rating and a $18.00 price objective for the company. Leerink Partners initiated coverage on shares of Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price target on the stock. Barclays boosted their price objective on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 target price on shares of Elanco Animal Health in a report on Thursday, September 19th. Finally, Morgan Stanley downgraded Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $17.00 to $15.00 in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $16.75.

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.