Alliancebernstein L.P. Acquires New Stake in Elanco Animal Health (ELAN)

Alliancebernstein L.P. acquired a new position in Elanco Animal Health (NASDAQ:ELAN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 777,607 shares of the company’s stock, valued at approximately $27,131,000. Alliancebernstein L.P. owned approximately 0.22% of Elanco Animal Health as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Wells Fargo & Company MN bought a new stake in shares of Elanco Animal Health in the third quarter worth $79,056,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Elanco Animal Health in the third quarter worth $48,580,000. JPMorgan Chase & Co. bought a new stake in shares of Elanco Animal Health in the third quarter worth $38,358,000. American Century Companies Inc. bought a new stake in shares of Elanco Animal Health in the third quarter worth $29,898,000. Finally, Jennison Associates LLC bought a new stake in shares of Elanco Animal Health in the third quarter worth $13,956,000.

NASDAQ ELAN opened at $33.41 on Monday. Elanco Animal Health has a 1 year low of $30.10 and a 1 year high of $37.61.

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

In other news, CEO Jeffrey N. Simmons purchased 22,000 shares of the company’s stock in a transaction on Monday, September 24th. The shares were purchased at an average cost of $24.00 per share, with a total value of $528,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence Erik Kurzius purchased 10,000 shares of the company’s stock in a transaction on Monday, September 24th. The shares were purchased at an average cost of $24.00 per share, for a total transaction of $240,000.00. The disclosure for this purchase can be found here. Insiders have acquired 33,000 shares of company stock worth $792,000 over the last ninety days.

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

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Elanco Animal Health Company Profile

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

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