Prudential Financial Inc. Buys 1,214,992 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Prudential Financial Inc. lifted its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 40.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,224,997 shares of the company’s stock after purchasing an additional 1,214,992 shares during the period. Prudential Financial Inc. owned about 0.85% of Elanco Animal Health worth $51,165,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ELAN. Commerce Bank increased its position in shares of Elanco Animal Health by 2.2% in the third quarter. Commerce Bank now owns 35,114 shares of the company’s stock valued at $516,000 after acquiring an additional 741 shares during the period. Hillsdale Investment Management Inc. increased its holdings in Elanco Animal Health by 2.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company’s stock valued at $524,000 after purchasing an additional 900 shares during the period. Arizona State Retirement System raised its position in Elanco Animal Health by 0.8% during the 4th quarter. Arizona State Retirement System now owns 143,462 shares of the company’s stock valued at $1,737,000 after purchasing an additional 1,166 shares during the last quarter. MTM Investment Management LLC lifted its holdings in Elanco Animal Health by 9.3% in the 4th quarter. MTM Investment Management LLC now owns 14,168 shares of the company’s stock worth $172,000 after buying an additional 1,200 shares during the period. Finally, M&T Bank Corp grew its position in shares of Elanco Animal Health by 5.9% in the 3rd quarter. M&T Bank Corp now owns 26,407 shares of the company’s stock worth $388,000 after buying an additional 1,464 shares during the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

Elanco Animal Health Price Performance

Shares of NYSE ELAN opened at $10.51 on Wednesday. The company has a 50 day simple moving average of $11.32 and a two-hundred day simple moving average of $12.51. Elanco Animal Health Incorporated has a fifty-two week low of $10.03 and a fifty-two week high of $18.80. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 26.28, a P/E/G 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 (NYSE:ELAN) last issued its quarterly 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 company had revenue of $1.02 billion for the quarter, compared to the consensus estimate 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 was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 earnings per share. Analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other Elanco Animal Health news, Director Lawrence Erik Kurzius bought 10,000 shares of the business’s stock in a transaction on 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 purchase, the director now owns 111,459 shares in the company, valued at approximately $1,136,881.80. This trade represents a 9.86 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

ELAN has been the topic of a number of research analyst reports. 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. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. Leerink Partners started coverage on shares of Elanco Animal Health in a report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price objective for the company. Stifel Nicolaus reduced their target price on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, Piper Sandler lowered their target price on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. 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 currently has an average rating of “Hold” and a consensus price target of $15.17.

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.