Jennison Associates LLC Invests $13.96 Million in Elanco Animal Health (ELAN)

Jennison Associates LLC bought a new stake in Elanco Animal Health (NASDAQ:ELAN) during the 3rd quarter, HoldingsChannel reports. The fund bought 400,000 shares of the company’s stock, valued at approximately $13,956,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Manhattan Co. bought a new position in shares of Elanco Animal Health during the third quarter worth about $348,000. Massachusetts Financial Services Co. MA bought a new position in shares of Elanco Animal Health during the third quarter worth about $48,580,000. FNY Investment Advisers LLC bought a new position in shares of Elanco Animal Health during the third quarter worth about $456,000. Daiwa Securities Group Inc. bought a new position in shares of Elanco Animal Health during the third quarter worth about $425,000. Finally, Wells Fargo & Company MN bought a new position in shares of Elanco Animal Health during the third quarter worth about $79,056,000.

Shares of ELAN stock opened at $33.61 on Friday. Elanco Animal Health has a fifty-two week low of $30.10 and a fifty-two week high of $37.61.

Elanco Animal Health (NASDAQ:ELAN) last issued its earnings results on Tuesday, November 6th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.04. The business had revenue of $761.10 million during the quarter, compared to the consensus estimate of $766.26 million. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share.

In other news, Director Lawrence Erik Kurzius acquired 10,000 shares of Elanco Animal Health stock in a transaction on Monday, September 24th. The stock was purchased at an average price of $24.00 per share, with a total value of $240,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey N. Simmons acquired 22,000 shares of Elanco Animal Health stock in a transaction on Monday, September 24th. The stock was purchased at an average cost of $24.00 per share, with a total value of $528,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 33,000 shares of company stock valued at $792,000.

ELAN has been the subject of a number of analyst reports. Craig Hallum initiated coverage on Elanco Animal Health in a research report on Friday, October 12th. They set a “hold” rating for the company. Bank of America began coverage on Elanco Animal Health in a research report on Monday, October 15th. They set a “neutral” rating and a $34.00 price objective for the company. Credit Suisse Group began coverage on Elanco Animal Health in a report on Monday, October 15th. They issued a “neutral” rating and a $36.00 target price for the company. Morgan Stanley began coverage on Elanco Animal Health in a report on Monday, October 15th. They issued an “equal weight” rating and a $35.00 target price for the company. Finally, Goldman Sachs Group began coverage on Elanco Animal Health in a report on Monday, October 15th. They issued a “neutral” rating and a $30.00 target price for the company. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Elanco Animal Health currently has a consensus rating of “Hold” and an average target price of $34.88.

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Elanco Animal Health Company Profile

There is no company description available for Elanco Animal Health Inc

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

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