Credit Suisse AG Cuts Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Posted by on Jun 8th, 2023

Credit Suisse AG reduced its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN – Get Rating) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,712,424 shares of the company’s stock after selling 16,460 shares during the period. Credit Suisse AG owned 0.36% of Elanco Animal Health worth $20,926,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ELAN. Ontario Teachers Pension Plan Board increased its position in shares of Elanco Animal Health by 123.6% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 17,922,193 shares of the company’s stock valued at $219,009,000 after acquiring an additional 9,906,876 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Elanco Animal Health by 22.0% during the third quarter. Price T Rowe Associates Inc. MD now owns 27,030,888 shares of the company’s stock valued at $335,454,000 after acquiring an additional 4,872,640 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Elanco Animal Health by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 18,632,956 shares of the company’s stock valued at $227,695,000 after acquiring an additional 2,484,388 shares in the last quarter. BlackRock Inc. boosted its holdings in Elanco Animal Health by 6.6% in the first quarter. BlackRock Inc. now owns 26,217,917 shares of the company’s stock worth $684,027,000 after purchasing an additional 1,631,045 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in Elanco Animal Health by 2,243.8% in the fourth quarter. First Trust Advisors LP now owns 1,611,978 shares of the company’s stock worth $19,698,000 after purchasing an additional 1,543,202 shares during the last quarter.

Elanco Animal Health Price Performance

Shares of ELAN stock opened at $9.38 on Thursday. Elanco Animal Health Incorporated has a one year low of $7.88 and a one year high of $24.83. The company’s fifty day moving average price is $9.06 and its 200-day moving average price is $11.00. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.24 and a current ratio of 2.25.

Elanco Animal Health (NYSE:ELAN – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.29 by $0.16. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.18 billion. Elanco Animal Health had a negative net margin of 0.49% and a positive return on equity of 8.21%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. As a group, equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays upgraded shares of Elanco Animal Health from an “equal weight” rating to an “overweight” rating and set a $14.00 target price on the stock in a report on Thursday, April 20th. Piper Sandler dropped their target price on shares of Elanco Animal Health from $15.00 to $12.00 in a report on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Elanco Animal Health presently has a consensus rating of “Hold” and a consensus price target of $16.50.

Insider Activity

In other news, CEO Jeffrey N. Simmons acquired 15,000 shares of the firm’s stock in a transaction dated Friday, March 10th. The shares were purchased at an average cost of $9.60 per share, for a total transaction of $144,000.00. Following the transaction, the chief executive officer now directly owns 45,000 shares of the company’s stock, valued at $432,000. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 6.40% of the company’s stock.

About Elanco Animal Health

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Elanco Animal Health, Inc innovates, develops, manufactures, and markets products for pets and farm animals. It offers products through the following four categories: Companion Animal Disease Prevention, Companion Animal Therapeutics, Food Animal Future Protein & Health, and Food Animal Ruminants & Swine.

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

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