Bank of America Corp DE Increases Stake in Elanco Animal Health (ELAN)

Bank of America Corp DE grew its position in Elanco Animal Health (NASDAQ:ELAN) by 131.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,371 shares of the company’s stock after purchasing an additional 16,705 shares during the period. Bank of America Corp DE’s holdings in Elanco Animal Health were worth $927,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Elanco Animal Health in the third quarter worth approximately $32,247,000. JPMorgan Chase & Co. bought a new stake in Elanco Animal Health in the 3rd quarter worth about $38,358,000. LPL Financial LLC bought a new stake in Elanco Animal Health in the 3rd quarter worth about $313,000. Legal & General Group Plc bought a new stake in Elanco Animal Health in the 3rd quarter worth about $839,000. Finally, Morgan Stanley bought a new stake in Elanco Animal Health in the 3rd quarter worth about $314,448,000.

ELAN has been the subject of several research analyst reports. Morgan Stanley initiated coverage on Elanco Animal Health in a report on Wednesday, March 13th. They issued an “equal weight” rating and a $34.00 price objective for the company. Argus initiated coverage on Elanco Animal Health in a report on Tuesday, January 15th. They issued a “buy” rating and a $37.00 price objective for the company. UBS Group initiated coverage on Elanco Animal Health in a report on Wednesday, January 23rd. They issued a “sell” rating and a $29.00 price objective for the company. William Blair initiated coverage on Elanco Animal Health in a report on Monday, February 11th. They issued a “market perform” rating and a $29.71 price objective for the company. Finally, Bank of America upgraded Elanco Animal Health from a “neutral” rating to a “buy” rating and set a $30.95 price objective for the company in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Elanco Animal Health currently has a consensus rating of “Hold” and a consensus price target of $33.47.



In other news, Director R David Hoover purchased 20,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was acquired at an average cost of $31.43 per share, for a total transaction of $628,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Elanco Animal Health stock opened at $32.15 on Tuesday. Elanco Animal Health has a 52-week low of $28.00 and a 52-week high of $37.61.

Elanco Animal Health (NASDAQ:ELAN) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. The firm had revenue of $731.10 million for the quarter, compared to the consensus estimate of $743.40 million. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 earnings per share.

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Elanco Animal Health Profile

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Institutional Ownership by Quarter for Elanco Animal Health (NASDAQ:ELAN)

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