Canada Pension Plan Investment Board Sells 91,900 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Canada Pension Plan Investment Board lowered its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,043,317 shares of the company’s stock after selling 91,900 shares during the period. Canada Pension Plan Investment Board owned approximately 0.82% of Elanco Animal Health worth $48,965,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. HighTower Advisors LLC increased its position in Elanco Animal Health by 34.0% during the 3rd quarter. HighTower Advisors LLC now owns 16,119 shares of the company’s stock valued at $237,000 after buying an additional 4,093 shares in the last quarter. Stifel Financial Corp boosted its holdings in Elanco Animal Health by 82.4% in the third quarter. Stifel Financial Corp now owns 112,102 shares of the company’s stock worth $1,647,000 after purchasing an additional 50,637 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Elanco Animal Health by 31.4% in the third quarter. MML Investors Services LLC now owns 15,454 shares of the company’s stock worth $227,000 after acquiring an additional 3,692 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Elanco Animal Health in the third quarter worth approximately $35,000. Finally, Tidal Investments LLC increased its stake in shares of Elanco Animal Health by 25.5% in the 3rd quarter. Tidal Investments LLC now owns 84,578 shares of the company’s stock worth $1,242,000 after purchasing an additional 17,206 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ELAN shares. Stifel Nicolaus cut their price target 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. Barclays decreased 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 cut their target price 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. Morgan Stanley reduced 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 research report on Wednesday, February 26th. Finally, Piper Sandler dropped their target price 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Elanco Animal Health has an average rating of “Hold” and a consensus price target of $14.67.

Elanco Animal Health Trading Up 4.2 %

Shares of ELAN stock opened at $8.44 on Friday. The company has a market cap of $4.19 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44. 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 stock’s 50 day simple moving average is $10.26 and its two-hundred day simple moving average is $11.84. Elanco Animal Health Incorporated has a 1 year low of $8.02 and a 1 year high of $18.80.

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

Insider Activity at Elanco Animal Health

In related news, Director Lawrence Erik Kurzius purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average price of $10.20 per share, with a total value of $102,000.00. Following the completion of the purchase, the director now owns 111,459 shares of the company’s stock, valued at approximately $1,136,881.80. The trade was a 9.86 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.89% of the stock is owned by company insiders.

Elanco Animal Health 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.