Vaughan Nelson Investment Management L.P. Sells 1,741,070 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Vaughan Nelson Investment Management L.P. lessened its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN – Get Rating) by 73.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 622,831 shares of the company’s stock after selling 1,741,070 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.13% of Elanco Animal Health worth $7,730,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Venture Visionary Partners LLC purchased a new stake in Elanco Animal Health in the second quarter worth $45,000. Fifth Third Bancorp grew its stake in Elanco Animal Health by 139.6% in the second quarter. Fifth Third Bancorp now owns 2,396 shares of the company’s stock worth $47,000 after purchasing an additional 1,396 shares during the period. CKW Financial Group grew its stake in Elanco Animal Health by 60.0% in the second quarter. CKW Financial Group now owns 2,400 shares of the company’s stock worth $49,000 after purchasing an additional 900 shares during the period. Eagle Bay Advisors LLC grew its stake in Elanco Animal Health by 4,040.0% in the second quarter. Eagle Bay Advisors LLC now owns 2,691 shares of the company’s stock worth $53,000 after purchasing an additional 2,626 shares during the period. Finally, SRS Capital Advisors Inc. grew its stake in Elanco Animal Health by 689.3% in the third quarter. SRS Capital Advisors Inc. now owns 4,578 shares of the company’s stock worth $57,000 after purchasing an additional 3,998 shares during the period.

Insider Activity

In other Elanco Animal Health news, Director John P. Bilbrey purchased 7,500 shares of the stock in a transaction dated 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 completion of the acquisition, the director now directly owns 41,722 shares in the company, valued at approximately $552,399.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 6.40% of the company’s stock.

Elanco Animal Health Trading Down 2.1 %

Shares of NYSE:ELAN opened at $12.95 on Wednesday. The company has a market cap of $6.14 billion, a P/E ratio of -53.96, a PEG ratio of 6.63 and a beta of 0.90. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.96 and a quick ratio of 1.12. Elanco Animal Health Incorporated has a 1 year low of $11.18 and a 1 year high of $29.66. The stock’s fifty day moving average price is $12.49 and its 200-day moving average price is $14.50.

Elanco Animal Health (NYSE:ELAN – Get Rating) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Elanco Animal Health had a positive return on equity of 7.65% and a negative net margin of 2.64%. Sell-side analysts expect that Elanco Animal Health Incorporated will post 1.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group reduced their price target on 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. Piper Sandler cut their target price on Elanco Animal Health from $21.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, November 14th. JPMorgan Chase & Co. cut their target price on Elanco Animal Health from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, October 17th. Morgan Stanley cut their target price on Elanco Animal Health from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 15th. Finally, TheStreet cut Elanco Animal Health from a “c-” rating to a “d+” rating in a research note on Tuesday, October 4th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.83.

Elanco Animal Health 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.