Sound Shore Management Inc CT Raises Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Sound Shore Management Inc CT increased its position in shares of Elanco Animal Health Incorporated (NYSE:ELANGet Rating) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,131,801 shares of the company’s stock after buying an additional 75,315 shares during the period. Elanco Animal Health comprises approximately 2.1% of Sound Shore Management Inc CT’s holdings, making the stock its 27th largest holding. Sound Shore Management Inc CT owned about 0.87% of Elanco Animal Health worth $51,276,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Dodge & Cox lifted its stake in shares of Elanco Animal Health by 72.1% during the second quarter. Dodge & Cox now owns 49,206,190 shares of the company’s stock worth $965,918,000 after buying an additional 20,618,487 shares during the period. Ontario Teachers Pension Plan Board grew its position in shares of Elanco Animal Health by 110.8% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 6,726,521 shares of the company’s stock valued at $132,042,000 after acquiring an additional 3,535,308 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Elanco Animal Health by 286.5% in the third quarter. The Manufacturers Life Insurance Company now owns 4,062,666 shares of the company’s stock valued at $50,430,000 after buying an additional 3,011,622 shares in the last quarter. BlackRock Inc. raised its position in Elanco Animal Health by 6.6% during the first quarter. BlackRock Inc. now owns 26,217,917 shares of the company’s stock worth $684,027,000 after acquiring an additional 1,631,045 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Elanco Animal Health by 14.6% in the first quarter. Goldman Sachs Group Inc. now owns 12,105,226 shares of the company’s stock valued at $315,825,000 after purchasing an additional 1,541,163 shares during the period.

Elanco Animal Health Price Performance

Shares of NYSE ELAN opened at $12.83 on Wednesday. The stock has a market cap of $6.08 billion, a P/E ratio of -53.96, a P/E/G ratio of 6.63 and a beta of 0.90. The stock has a 50 day moving average of $12.49 and a two-hundred day moving average of $14.50. The company has a current ratio of 1.96, a quick ratio of 1.12 and a debt-to-equity ratio of 0.82. Elanco Animal Health Incorporated has a twelve month low of $11.18 and a twelve month high of $29.66.

Elanco Animal Health (NYSE:ELANGet Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.16 by $0.04. Elanco Animal Health had a positive return on equity of 7.65% and a negative net margin of 2.64%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. On average, research analysts forecast that Elanco Animal Health Incorporated will post 1.04 earnings per share for the current year.

Insider Buying and Selling

In other Elanco Animal Health news, Director John P. Bilbrey purchased 7,500 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were purchased at an average cost of $13.24 per share, with a total value of $99,300.00. Following the purchase, the director now owns 41,722 shares in the company, valued at $552,399.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ELAN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Elanco Animal Health from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, October 17th. TheStreet cut shares of Elanco Animal Health from a “c-” rating to a “d+” rating in a research report on Tuesday, October 4th. The Goldman Sachs Group decreased their price target on shares of Elanco Animal Health from $19.00 to $12.00 and set a “sell” rating on the stock in a research note on Wednesday, November 9th. William Blair reiterated a “market perform” rating on shares of Elanco Animal Health in a report on Tuesday, November 8th. Finally, Morgan Stanley cut their price target on Elanco Animal Health from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, November 15th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, Elanco Animal Health currently has an average rating of “Hold” and an average target price of $17.83.

Elanco Animal Health Company Profile

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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.

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

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