Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP trimmed its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 8.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,495,009 shares of the company’s stock after selling 1,500,953 shares during the period. Dimensional Fund Advisors LP owned approximately 3.34% of Elanco Animal Health worth $238,020,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ELAN. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Elanco Animal Health in the 1st quarter worth about $1,226,000. Vanguard Group Inc. lifted its position in Elanco Animal Health by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock valued at $737,083,000 after buying an additional 467,196 shares in the last quarter. Bank of Nova Scotia acquired a new stake in shares of Elanco Animal Health in the fourth quarter worth $4,004,000. Wolf Hill Capital Management LP purchased a new position in shares of Elanco Animal Health in the 4th quarter valued at $20,683,000. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Elanco Animal Health during the 1st quarter valued at $4,956,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Elanco Animal Health Trading Up 2.5 %

Shares of ELAN opened at $14.65 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93. Elanco Animal Health Incorporated has a one year low of $8.52 and a one year high of $18.80. The stock has a 50-day moving average price of $13.89 and a 200 day moving average price of $15.17. The company has a market capitalization of $7.24 billion, a P/E ratio of -5.53, a P/E/G ratio of 1.44 and a beta of 1.40.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. Sell-side analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insider Transactions at Elanco Animal Health

In related news, Director Michael J. Harrington purchased 3,500 shares of Elanco Animal Health stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average price of $14.85 per share, with a total value of $51,975.00. Following the completion of the transaction, the director now owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other Elanco Animal Health news, Director Michael J. Harrington acquired 3,500 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was purchased 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 directly owns 81,094 shares in the company, valued at approximately $1,204,245.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey N. Simmons bought 100,000 shares of the stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the purchase, 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. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

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