Cresset Asset Management LLC Reduces Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Cresset Asset Management LLC lowered its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 82.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 15,966 shares of the company’s stock after selling 76,941 shares during the quarter. Cresset Asset Management LLC’s holdings in Elanco Animal Health were worth $193,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Elanco Animal Health by 1,153.6% in the 4th 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Elanco Animal Health by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,900,987 shares of the company’s stock worth $216,774,000 after purchasing an additional 1,074,274 shares in the last quarter. Magnetar Financial LLC increased its holdings in shares of Elanco Animal Health by 13.7% in the 4th quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company’s stock worth $145,711,000 after purchasing an additional 1,454,082 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Elanco Animal Health by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 8,180,840 shares of the company’s stock worth $99,102,000 after purchasing an additional 312,165 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Elanco Animal Health by 8.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,924,098 shares of the company’s stock worth $83,851,000 after purchasing an additional 538,631 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Performance

NYSE ELAN opened at $12.94 on Monday. The stock has a 50-day simple moving average of $10.11 and a two-hundred day simple moving average of $11.43. The firm has a market capitalization of $6.42 billion, a P/E ratio of 32.34, a PEG ratio of 2.50 and a beta of 1.49. Elanco Animal Health Incorporated has a fifty-two week low of $8.02 and a fifty-two week high of $18.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm earned $0.34 EPS. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

ELAN has been the topic of a number of research reports. Piper Sandler dropped their price target on 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. Barclays dropped their price target on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. UBS Group dropped their price target on 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. Stifel Nicolaus raised their price target 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. Finally, Morgan Stanley dropped their price target on Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock 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’s stock. According to data from MarketBeat.com, Elanco Animal Health presently has an average rating of “Hold” and a consensus price target of $15.00.

Insider Buying and Selling at Elanco Animal Health

In other news, Director Lawrence Erik Kurzius bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $10.20 per share, for a total transaction of $102,000.00. Following the completion of the transaction, the director now owns 111,459 shares in the company, valued at $1,136,881.80. The trade was a 9.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.89% 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.