Handelsinvest Investeringsforvaltning Sells 10,124 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Handelsinvest Investeringsforvaltning reduced its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 34.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,500 shares of the company’s stock after selling 10,124 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Elanco Animal Health were worth $317,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ELAN. Jones Financial Companies Lllp bought a new stake in Elanco Animal Health in the fourth quarter worth approximately $37,000. Tower Research Capital LLC TRC increased its holdings in Elanco Animal Health by 169.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,212 shares of the company’s stock worth $93,000 after purchasing an additional 3,906 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Elanco Animal Health in the third quarter worth approximately $95,000. HBK Sorce Advisory LLC bought a new stake in Elanco Animal Health in the fourth quarter worth approximately $169,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Elanco Animal Health by 10.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,123 shares of the company’s stock valued at $181,000 after acquiring an additional 1,127 shares during the period. 97.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elanco Animal Health

In other Elanco Animal Health news, Director William F. Doyle acquired 15,000 shares of Elanco Animal Health stock in a transaction on Tuesday, May 21st. The stock was purchased at an average price of $16.98 per share, for a total transaction of $254,700.00. Following the purchase, the director now directly owns 76,330 shares of the company’s stock, valued at $1,296,083.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Elanco Animal Health Trading Up 0.9 %

Shares of Elanco Animal Health stock opened at $14.13 on Thursday. The stock has a fifty day simple moving average of $16.48 and a 200 day simple moving average of $15.70. Elanco Animal Health Incorporated has a 12-month low of $8.52 and a 12-month high of $18.80. The company has a market capitalization of $6.98 billion, a P/E ratio of -5.33, a price-to-earnings-growth ratio of 1.40 and a beta of 1.42. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.95.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. Elanco Animal Health’s revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

About Elanco Animal Health

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.