Elanco Animal Health Incorporated (NYSE:ELAN) Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 11.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,942 shares of the company’s stock after buying an additional 3,647 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Elanco Animal Health were worth $504,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ELAN. ORG Partners LLC purchased a new position in Elanco Animal Health during the second quarter worth $31,000. Jones Financial Companies Lllp purchased a new stake in Elanco Animal Health during the fourth quarter valued at about $37,000. Global Financial Private Client LLC purchased a new stake in Elanco Animal Health during the first quarter valued at about $72,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Elanco Animal Health during the second quarter valued at about $158,000. Finally, Innealta Capital LLC purchased a new stake in shares of Elanco Animal Health in the second quarter worth about $162,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN opened at $14.07 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.93 and a quick ratio of 1.75. The business has a 50-day moving average of $13.95 and a two-hundred day moving average of $15.17. The stock has a market capitalization of $6.95 billion, a P/E ratio of -5.31, a P/E/G ratio of 1.44 and a beta of 1.40. Elanco Animal Health Incorporated has a fifty-two week low of $8.52 and a fifty-two week high of $18.80.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ELAN shares. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a report on Thursday. Piper Sandler dropped their price target on Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. 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. Finally, Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $17.00 to $15.00 in a report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.29.

Insider Transactions at Elanco Animal Health

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

Elanco Animal Health Company 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.