Frank Rimerman Advisors LLC Acquires Shares of 40,813 Elanco Animal Health Incorporated (NYSE:ELAN)

Frank Rimerman Advisors LLC acquired a new stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 40,813 shares of the company’s stock, valued at approximately $589,000.

Several other large investors have also bought and sold shares of the company. Sei Investments Co. raised its holdings in Elanco Animal Health by 3.6% in the 2nd quarter. Sei Investments Co. now owns 1,061,967 shares of the company’s stock worth $15,324,000 after acquiring an additional 37,145 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Elanco Animal Health during the 2nd quarter valued at approximately $55,599,000. Benjamin F. Edwards & Company Inc. lifted its stake in Elanco Animal Health by 337.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock worth $26,000 after purchasing an additional 1,361 shares in the last quarter. XTX Topco Ltd bought a new position in Elanco Animal Health during the second quarter valued at approximately $935,000. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Elanco Animal Health by 4.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 52,430 shares of the company’s stock valued at $755,000 after purchasing an additional 2,449 shares in the last quarter. 97.48% of the stock is owned by institutional investors.

Elanco Animal Health Stock Performance

Shares of ELAN opened at $14.44 on Tuesday. 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 market cap of $7.14 billion, a P/E ratio of -5.45, a P/E/G ratio of 1.44 and a beta of 1.40. The stock has a 50-day moving average of $13.98 and a two-hundred day moving average of $15.13.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating 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 firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. As a group, research analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Insider Activity at Elanco Animal Health

In related news, Director Michael J. Harrington acquired 3,500 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were acquired at an average cost 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Elanco Animal Health news, CEO Jeffrey N. Simmons purchased 100,000 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the acquisition, the chief executive officer now owns 145,000 shares in the company, valued at approximately $1,886,450. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael J. Harrington bought 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was bought at an average price of $14.85 per share, with a total value of $51,975.00. Following the acquisition, 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.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ELAN shares. Morgan Stanley cut Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $17.00 to $15.00 in a research note on Thursday, September 19th. Piper Sandler reduced their price objective on Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price objective on shares of Elanco Animal Health in a research note on Thursday, September 19th. Finally, Barclays lifted their target price on Elanco Animal Health from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.43.

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.