Primecap Management Co. CA Decreases Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Primecap Management Co. CA lessened its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,575,502 shares of the company’s stock after selling 227,261 shares during the period. Primecap Management Co. CA owned approximately 0.11% of Elanco Animal Health worth $772,334,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Elanco Animal Health by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock valued at $360,425,000 after purchasing an additional 852,281 shares during the last quarter. Ancora Advisors LLC raised its stake in Elanco Animal Health by 1.4% in the 1st quarter. Ancora Advisors LLC now owns 10,641,194 shares of the company’s stock worth $173,239,000 after acquiring an additional 143,326 shares during the last quarter. Magnetar Financial LLC raised its stake in Elanco Animal Health by 61.2% in the 2nd quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock worth $120,298,000 after acquiring an additional 3,164,350 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Elanco Animal Health by 11.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,990,546 shares of the company’s stock worth $86,444,000 after acquiring an additional 609,194 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Elanco Animal Health in the 2nd quarter worth $55,599,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $17.00 to $15.00 in a research note on Thursday, September 19th. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price target on shares of Elanco Animal Health in a research report on Thursday, September 19th. Finally, Barclays increased their price target on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Elanco Animal Health currently has an average rating of “Hold” and an average target price of $17.14.

Elanco Animal Health Trading Up 1.0 %

ELAN stock opened at $13.44 on Thursday. 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 12-month low of $11.40 and a 12-month high of $18.80. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 33.60, a PEG ratio of 1.39 and a beta of 1.41. The business’s 50-day moving average is $13.74 and its 200 day moving average is $14.76.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company posted $0.18 EPS. The business’s revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

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.