Geode Capital Management LLC Takes $18.59 Million Position in Elanco Animal Health (NASDAQ:ELAN)

Geode Capital Management LLC purchased a new stake in shares of Elanco Animal Health (NASDAQ:ELAN) during the 4th quarter, HoldingsChannel reports. The fund purchased 589,684 shares of the company’s stock, valued at approximately $18,592,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ELAN. American International Group Inc. acquired a new position in shares of Elanco Animal Health during the fourth quarter valued at $48,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Elanco Animal Health during the fourth quarter valued at $83,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Elanco Animal Health during the fourth quarter valued at $112,000. Neuburgh Advisers LLC acquired a new position in shares of Elanco Animal Health during the fourth quarter valued at $127,000. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Elanco Animal Health during the fourth quarter valued at $146,000.

Shares of Elanco Animal Health stock opened at $33.18 on Thursday. Elanco Animal Health has a 1 year low of $28.00 and a 1 year high of $37.61.

Elanco Animal Health (NASDAQ:ELAN) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.03. The business had revenue of $731.10 million during the quarter, compared to the consensus estimate of $743.40 million. During the same quarter last year, the company earned $0.33 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year.

ELAN has been the topic of several research reports. Zacks Investment Research lowered Elanco Animal Health from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. UBS Group assumed coverage on Elanco Animal Health in a research note on Wednesday, March 20th. They issued a “sell” rating and a $28.00 target price on the stock. Morgan Stanley assumed coverage on Elanco Animal Health in a research note on Wednesday, March 13th. They issued an “equal weight” rating and a $34.00 target price on the stock. Bank of America raised Elanco Animal Health from a “neutral” rating to a “buy” rating and set a $30.95 target price on the stock in a research note on Monday, March 18th. Finally, Guggenheim initiated coverage on Elanco Animal Health in a report on Wednesday, May 22nd. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $33.47.

In other Elanco Animal Health news, Director John P. Bilbrey purchased 7,750 shares of the stock in a transaction on Monday, May 13th. The stock was bought at an average cost of $32.39 per share, for a total transaction of $251,022.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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About Elanco Animal Health

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

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