Canada Pension Plan Investment Board Lowers Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Canada Pension Plan Investment Board cut its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 2.2% during the fourth quarter, HoldingsChannel reports. The fund owned 4,043,317 shares of the company’s stock after selling 91,900 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Elanco Animal Health were worth $48,965,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ELAN. FMR LLC grew its holdings in Elanco Animal Health by 1,153.6% in 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 last quarter. JPMorgan Chase & Co. lifted its position in Elanco Animal Health by 76.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock worth $147,747,000 after acquiring an additional 4,361,799 shares during the period. Norges Bank acquired a new position in shares of Elanco Animal Health in the fourth quarter valued at about $47,424,000. Brandes Investment Partners LP raised its stake in shares of Elanco Animal Health by 66.9% in the fourth quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company’s stock worth $69,405,000 after purchasing an additional 2,296,691 shares during the last quarter. Finally, Magnetar Financial LLC lifted its stake in 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 acquiring an additional 1,454,082 shares during the period. 97.48% of the stock is owned by institutional investors.

Elanco Animal Health Trading Up 4.2 %

ELAN opened at $8.44 on Friday. 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 company’s 50 day simple moving average is $10.26 and its two-hundred day simple moving average is $11.84. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44. 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 posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the firm earned $0.08 EPS. The firm’s revenue was down 1.4% on a year-over-year basis. Analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insider Transactions at Elanco Animal Health

In related news, Director Lawrence Erik Kurzius acquired 10,000 shares of Elanco Animal Health stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $10.20 per share, for a total transaction of $102,000.00. Following the acquisition, the director now owns 111,459 shares in the company, valued at approximately $1,136,881.80. This represents a 9.86 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

ELAN has been the topic of a number of research reports. Piper Sandler cut 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 research note on Thursday, March 6th. Stifel Nicolaus decreased their target price on shares of Elanco Animal Health from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, April 14th. UBS Group lowered their target price on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Barclays decreased their price objective on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Morgan Stanley cut their price objective 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Elanco Animal Health has an average rating of “Hold” and an average target price of $14.67.

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.