Primecap Management Co. CA Sells 1,410,337 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Primecap Management Co. CA cut its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,165,165 shares of the company’s stock after selling 1,410,337 shares during the period. Primecap Management Co. CA owned 10.35% of Elanco Animal Health worth $619,610,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ELAN. Atria Investments Inc raised its position in Elanco Animal Health by 57.9% during the 3rd quarter. Atria Investments Inc now owns 56,613 shares of the company’s stock worth $832,000 after buying an additional 20,760 shares during the last quarter. Victory Capital Management Inc. raised its position in Elanco Animal Health by 10.2% during the 3rd quarter. Victory Capital Management Inc. now owns 102,414 shares of the company’s stock worth $1,504,000 after buying an additional 9,480 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Elanco Animal Health by 81.5% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 33,193 shares of the company’s stock worth $488,000 after buying an additional 14,902 shares during the last quarter. AMG National Trust Bank raised its position in Elanco Animal Health by 3.1% during the 3rd quarter. AMG National Trust Bank now owns 133,738 shares of the company’s stock worth $1,965,000 after buying an additional 4,073 shares during the last quarter. Finally, Quest Partners LLC raised its position in Elanco Animal Health by 915.1% during the 3rd quarter. Quest Partners LLC now owns 16,201 shares of the company’s stock worth $238,000 after buying an additional 14,605 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Elanco Animal Health Trading Up 2.0 %

Shares of ELAN opened at $10.65 on Tuesday. Elanco Animal Health Incorporated has a 52-week low of $10.03 and a 52-week high of $18.80. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The firm’s fifty day moving average is $11.43 and its two-hundred day moving average is $12.70. The stock has a market cap of $5.27 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN) last announced 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 firm had revenue of $1.02 billion for 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%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS. Research analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ELAN has been the subject of a number of recent research reports. Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. UBS Group cut their price target on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Morgan Stanley cut their price target on shares of 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. Stifel Nicolaus cut their price target on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Piper Sandler cut their price target on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Elanco Animal Health has a consensus rating of “Hold” and an average price target of $15.17.

Insider Buying and Selling at Elanco Animal Health

In related news, Director Lawrence Erik Kurzius bought 10,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were bought at an average price of $10.90 per share, with a total value of $109,000.00. Following the completion of the transaction, the director now directly owns 101,459 shares of the company’s stock, valued at $1,105,903.10. This represents a 10.93 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

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.