Elanco Animal Health Incorporated (NYSE:ELAN) Shares Bought by Private Management Group Inc.

Private Management Group Inc. grew its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 25.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 887,203 shares of the company’s stock after acquiring an additional 181,306 shares during the quarter. Private Management Group Inc. owned about 0.18% of Elanco Animal Health worth $12,802,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Primecap Management Co. CA boosted its stake in Elanco Animal Health by 2.9% during the 4th quarter. Primecap Management Co. CA now owns 50,600,324 shares of the company’s stock worth $753,945,000 after purchasing an additional 1,431,665 shares during the period. Vanguard Group Inc. increased its position in Elanco Animal Health by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock valued at $737,083,000 after acquiring an additional 467,196 shares during the period. Price T Rowe Associates Inc. MD increased its position in Elanco Animal Health by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock valued at $360,425,000 after acquiring an additional 852,281 shares during the period. Dimensional Fund Advisors LP raised its stake in Elanco Animal Health by 33.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,095,179 shares of the company’s stock valued at $224,920,000 after acquiring an additional 3,816,514 shares during the last quarter. Finally, Ancora Advisors LLC lifted its position in Elanco Animal Health by 1.4% during the 1st quarter. Ancora Advisors LLC now owns 10,641,194 shares of the company’s stock worth $173,239,000 after acquiring an additional 143,326 shares during the period. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Jeffrey N. Simmons purchased 100,000 shares of Elanco Animal Health stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the transaction, the chief executive officer now owns 145,000 shares in the company, valued at $1,886,450. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Michael J. Harrington bought 3,500 shares of the stock in a transaction on Thursday, August 22nd. The shares were bought at an average price of $14.85 per share, with a total value of $51,975.00. Following the completion of the acquisition, the director now owns 81,094 shares of the company’s stock, valued at $1,204,245.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey N. Simmons purchased 100,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the transaction, the chief executive officer now owns 145,000 shares of the company’s stock, valued at $1,886,450. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by company insiders.

Elanco Animal Health Trading Down 1.7 %

Shares of ELAN stock opened at $15.09 on Monday. The business’s fifty day moving average price is $13.83 and its 200 day moving average price is $15.26. The company has a quick ratio of 1.75, a current ratio of 2.93 and a debt-to-equity ratio of 0.92. Elanco Animal Health Incorporated has a 1-year low of $8.52 and a 1-year high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.24 by $0.06. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The business’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. On average, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ELAN. Barclays cut their price target on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Piper Sandler cut their price objective on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.57.

Elanco Animal Health Profile

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.