Legal & General Group Plc Reduces Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Legal & General Group Plc lessened its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 655,964 shares of the company’s stock after selling 78,887 shares during the quarter. Legal & General Group Plc owned about 0.13% of Elanco Animal Health worth $7,944,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ELAN shares. UBS Group reduced their price target on shares of 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. Stifel Nicolaus reduced their target price on Elanco Animal Health from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday, April 14th. Morgan Stanley reduced their price objective on Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Barclays lowered their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Piper Sandler cut their price objective on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. 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 an average target price of $14.67.

Insider Activity

In related news, Director Lawrence Erik Kurzius purchased 10,000 shares of Elanco Animal Health stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $10.20 per share, with a total value of $102,000.00. Following the transaction, the director now directly owns 111,459 shares of the company’s stock, valued at approximately $1,136,881.80. This trade represents a 9.86 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.89% of the company’s stock.

Elanco Animal Health Stock Up 4.2 %

ELAN stock opened at $8.44 on Friday. The firm has a market cap of $4.19 billion, a PE ratio of 21.11, a PEG ratio of 2.50 and a beta of 1.44. Elanco Animal Health Incorporated has a one year low of $8.02 and a one year high of $18.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. The firm’s 50 day moving average price is $10.26 and its 200-day moving average price is $11.84.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data 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 business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $0.08 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS 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.