Baird Financial Group Inc. Sells 8,388 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Baird Financial Group Inc. lessened its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 18.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,018 shares of the company’s stock after selling 8,388 shares during the quarter. Baird Financial Group Inc.’s holdings in Elanco Animal Health were worth $436,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ELAN. FMR LLC increased its holdings in Elanco Animal Health by 1,153.6% during the 4th quarter. FMR LLC now owns 40,232,327 shares of the company’s stock valued at $487,213,000 after purchasing an additional 37,022,891 shares in the last quarter. Norges Bank acquired a new stake in Elanco Animal Health during the 4th quarter valued at $47,424,000. Brandes Investment Partners LP increased its holdings in Elanco Animal Health by 66.9% during the 4th quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company’s stock valued at $69,405,000 after purchasing an additional 2,296,691 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in Elanco Animal Health during the 4th quarter valued at $20,396,000. Finally, Magnetar Financial LLC increased its holdings 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 purchasing an additional 1,454,082 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.

Insider Transactions at Elanco Animal Health

In related news, Director Lawrence Erik Kurzius bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $10.20 per share, for a total transaction of $102,000.00. Following the completion of the acquisition, the director now owns 111,459 shares of the company’s stock, valued at approximately $1,136,881.80. The trade was a 9.86% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.89% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Morgan Stanley lowered their target price 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. Barclays decreased their price objective on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Stifel Nicolaus lifted their price objective on Elanco Animal Health from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. UBS Group decreased their price objective on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler reduced their target price on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Elanco Animal Health has a consensus rating of “Hold” and a consensus target price of $15.00.

Elanco Animal Health Stock Up 0.5%

NYSE:ELAN opened at $12.95 on Friday. Elanco Animal Health Incorporated has a 1 year low of $8.02 and a 1 year high of $18.80. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.50 and a beta of 1.49. The stock has a 50-day moving average price of $10.05 and a two-hundred day moving average price of $11.45.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.06. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. Elanco Animal Health’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. As a group, equities analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

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.