Elanco Animal Health Incorporated (NYSE:ELAN) Shares Bought by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. raised its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 148.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,741,308 shares of the company’s stock after purchasing an additional 1,041,308 shares during the period. Adage Capital Partners GP L.L.C. owned 0.35% of Elanco Animal Health worth $21,087,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. FMR LLC increased its position in Elanco Animal Health by 1,153.6% during the 4th quarter. FMR LLC now owns 40,232,327 shares of the company’s stock valued at $487,213,000 after buying an additional 37,022,891 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Elanco Animal Health by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,900,987 shares of the company’s stock worth $216,774,000 after acquiring an additional 1,074,274 shares during the last quarter. Magnetar Financial LLC increased its holdings in shares of Elanco Animal Health by 13.7% during the fourth quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company’s stock valued at $145,711,000 after acquiring an additional 1,454,082 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Elanco Animal Health by 76.6% during the third quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock valued at $147,747,000 after acquiring an additional 4,361,799 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Elanco Animal Health by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 8,180,840 shares of the company’s stock valued at $99,102,000 after purchasing an additional 312,165 shares during 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 weighed in on the stock. Stifel Nicolaus dropped their target price on shares of Elanco Animal Health from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Piper Sandler dropped their price objective 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, March 6th. 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 research note on Wednesday, February 26th. Barclays lowered their price target on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, UBS Group cut their price objective on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.67.

Insider Transactions at Elanco Animal Health

In other news, Director Lawrence Erik Kurzius bought 10,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $10.20 per share, with a total value of $102,000.00. Following the purchase, the director now directly owns 111,459 shares in the company, valued at $1,136,881.80. The trade was a 9.86 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.89% of the company’s stock.

Elanco Animal Health Price Performance

NYSE:ELAN opened at $9.45 on Friday. The firm’s fifty day moving average is $10.03 and its two-hundred day moving average is $11.64. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 2.50 and a beta of 1.44. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. Elanco Animal Health Incorporated has a one year low of $8.02 and a one year high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Tuesday, February 25th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The company had revenue of $1.02 billion during 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 firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 EPS. Research analysts expect 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.