Shapiro Capital Management LLC Sells 1,339,844 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Shapiro Capital Management LLC lowered its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 12.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,553,454 shares of the company’s stock after selling 1,339,844 shares during the quarter. Elanco Animal Health accounts for about 4.2% of Shapiro Capital Management LLC’s investment portfolio, making the stock its 6th biggest holding. Shapiro Capital Management LLC owned about 1.93% of Elanco Animal Health worth $137,856,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Hunter Associates Investment Management LLC increased its position in shares of Elanco Animal Health by 5.1% in the 1st quarter. Hunter Associates Investment Management LLC now owns 16,600 shares of the company’s stock valued at $269,000 after buying an additional 800 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of Elanco Animal Health by 3.6% in the second quarter. 180 Wealth Advisors LLC now owns 25,716 shares of the company’s stock worth $352,000 after acquiring an additional 893 shares in the last quarter. HBK Sorce Advisory LLC raised its position in shares of Elanco Animal Health by 9.4% during the second quarter. HBK Sorce Advisory LLC now owns 12,920 shares of the company’s stock worth $186,000 after purchasing an additional 1,107 shares during the period. Atomi Financial Group Inc. lifted its holdings in shares of Elanco Animal Health by 11.1% during the 2nd quarter. Atomi Financial Group Inc. now owns 12,260 shares of the company’s stock valued at $177,000 after purchasing an additional 1,221 shares in the last quarter. Finally, Commerce Bank grew its position in shares of Elanco Animal Health by 3.8% in the 4th quarter. Commerce Bank now owns 33,665 shares of the company’s stock valued at $502,000 after purchasing an additional 1,223 shares during the period. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Up 2.6 %

NYSE:ELAN opened at $14.44 on Tuesday. Elanco Animal Health Incorporated has a twelve month low of $8.52 and a twelve month high of $18.80. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of -5.45, a price-to-earnings-growth ratio of 1.44 and a beta of 1.40. The company has a quick ratio of 1.75, a current ratio of 2.93 and a debt-to-equity ratio of 0.92. The stock’s 50 day moving average price is $13.98 and its two-hundred day moving average price is $15.13.

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

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

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.