Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,057,478 shares of the company’s stock after selling 22,215 shares during the period. Federated Hermes Inc. owned approximately 0.42% of Elanco Animal Health worth $24,916,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in shares of Elanco Animal Health by 53.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 211,904 shares of the company’s stock valued at $2,566,000 after buying an additional 73,838 shares during the period. Old West Investment Management LLC acquired a new stake in Elanco Animal Health in the 4th quarter valued at about $4,769,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Elanco Animal Health during the 4th quarter valued at about $134,000. Landscape Capital Management L.L.C. grew its stake in shares of Elanco Animal Health by 292.6% in the 4th quarter. Landscape Capital Management L.L.C. now owns 178,766 shares of the company’s stock worth $2,165,000 after purchasing an additional 133,232 shares during the last quarter. Finally, Cinctive Capital Management LP bought a new stake in shares of Elanco Animal Health in the 4th quarter worth approximately $627,000. 97.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Elanco Animal Health

In other news, Director Lawrence Erik Kurzius purchased 10,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $10.90 per share, with a total value of $109,000.00. Following the purchase, the director now directly owns 101,459 shares of the company’s stock, valued at approximately $1,105,903.10. This trade represents a 10.93 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Stifel Nicolaus decreased their price target on shares of 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. Piper Sandler decreased their target price on 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 report on Wednesday, February 26th. Barclays dropped their price target on 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, UBS Group reduced their price objective on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.17.

Elanco Animal Health Stock Down 7.0 %

NYSE:ELAN opened at $8.32 on Wednesday. The business’s fifty day moving average price is $10.82 and its 200 day moving average price is $12.16. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 2.50 and a beta of 1.44. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. Elanco Animal Health Incorporated has a 1-year low of $8.19 and a 1-year high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. Elanco Animal Health’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. On average, sell-side analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

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.