Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Black Creek Investment Management Inc.

Black Creek Investment Management Inc. trimmed its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 4.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,434,653 shares of the company’s stock after selling 865,557 shares during the period. Elanco Animal Health accounts for 11.7% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Black Creek Investment Management Inc. owned 4.13% of Elanco Animal Health worth $247,464,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Elanco Animal Health by 1,153.6% during the fourth quarter. FMR LLC now owns 40,232,327 shares of the company’s stock worth $487,213,000 after purchasing an additional 37,022,891 shares during the period. Magnetar Financial LLC boosted its stake in shares of Elanco Animal Health by 13.7% during the 4th quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company’s stock valued at $145,711,000 after buying an additional 1,454,082 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Elanco Animal Health by 76.6% during the 3rd 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. State Street Corp increased its stake in shares of Elanco Animal Health by 2.6% in the third quarter. State Street Corp now owns 9,912,693 shares of the company’s stock worth $145,617,000 after acquiring an additional 255,084 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Elanco Animal Health by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 8,180,840 shares of the company’s stock worth $99,102,000 after acquiring an additional 312,165 shares in the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Elanco Animal Health news, Director Lawrence Erik Kurzius bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $10.20 per share, for a total transaction of $102,000.00. Following the transaction, the director now owns 111,459 shares in the company, valued at approximately $1,136,881.80. The trade was a 9.86 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Elanco Animal Health Stock Performance

Shares of ELAN opened at $8.64 on Friday. The company has a market capitalization of $4.29 billion, a PE ratio of 21.60, 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. Elanco Animal Health Incorporated has a one year low of $8.03 and a one year high of $18.80. The company’s fifty day moving average price is $10.59 and its 200 day moving average price is $12.03.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data 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 business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. Elanco Animal Health’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 EPS. As a group, analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Stifel Nicolaus dropped their target price on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. UBS Group cut their price objective on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Barclays decreased their target price on shares of 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. Morgan Stanley cut their price target on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Piper Sandler decreased 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Elanco Animal Health has an average rating of “Hold” and an average target price of $15.17.

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.