Raymond James & Associates Sells 777,405 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Raymond James & Associates lessened its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 62.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 463,504 shares of the company’s stock after selling 777,405 shares during the period. Raymond James & Associates owned about 0.09% of Elanco Animal Health worth $6,809,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ELAN. Canada Pension Plan Investment Board acquired a new stake in Elanco Animal Health during the 2nd quarter valued at $55,599,000. Magnetar Financial LLC raised its holdings in shares of Elanco Animal Health by 61.2% in the second quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock valued at $120,298,000 after buying an additional 3,164,350 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in Elanco Animal Health during the 2nd quarter worth about $16,043,000. Price T Rowe Associates Inc. MD grew its holdings in Elanco Animal Health by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock worth $360,425,000 after acquiring an additional 852,281 shares during the last quarter. Finally, Redmile Group LLC acquired a new stake in Elanco Animal Health in the 1st quarter valued at about $11,006,000. Institutional investors own 97.48% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Barclays reduced their target price on shares of Elanco Animal Health from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday. Morgan Stanley downgraded 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 report on Thursday, September 19th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $20.00 target price on shares of Elanco Animal Health in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.00.

Insiders Place Their Bets

In other Elanco Animal Health news, Director Michael J. Harrington bought 3,500 shares of Elanco Animal Health stock in a transaction on Thursday, August 22nd. The shares were purchased at an average cost of $14.85 per share, for a total transaction of $51,975.00. Following the completion of the acquisition, the director now owns 81,094 shares in the company, valued at approximately $1,204,245.90. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Michael J. Harrington purchased 3,500 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were purchased at an average price of $14.85 per share, with a total value of $51,975.00. Following the completion of the purchase, the director now owns 81,094 shares in the company, valued at $1,204,245.90. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey N. Simmons acquired 100,000 shares of the stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $13.01 per share, with a total value of $1,301,000.00. Following the transaction, the chief executive officer now directly owns 145,000 shares of the company’s stock, valued at $1,886,450. This represents a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.57% of the company’s stock.

Elanco Animal Health Price Performance

ELAN opened at $12.77 on Thursday. The company has a fifty day moving average price of $14.19 and a two-hundred day moving average price of $14.75. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93. The firm has a market capitalization of $6.31 billion, a PE ratio of -4.82, a P/E/G ratio of 1.32 and a beta of 1.40. Elanco Animal Health Incorporated has a 52 week low of $8.59 and a 52 week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last announced 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 during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm earned $0.18 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

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.