State of New Jersey Common Pension Fund D Has $2.84 Million Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

State of New Jersey Common Pension Fund D cut its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 30.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,811 shares of the company’s stock after selling 84,714 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Elanco Animal Health were worth $2,840,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Linscomb Wealth Inc. increased its stake in Elanco Animal Health by 6.9% in the second quarter. Linscomb Wealth Inc. now owns 82,472 shares of the company’s stock valued at $1,190,000 after purchasing an additional 5,325 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Elanco Animal Health by 2,484.4% in the 2nd quarter. Headlands Technologies LLC now owns 29,204 shares of the company’s stock valued at $421,000 after buying an additional 28,074 shares in the last quarter. Choreo LLC acquired a new stake in Elanco Animal Health during the 2nd quarter worth $620,000. Private Management Group Inc. lifted its holdings in Elanco Animal Health by 25.7% during the second quarter. Private Management Group Inc. now owns 887,203 shares of the company’s stock worth $12,802,000 after acquiring an additional 181,306 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new position in Elanco Animal Health in the second quarter valued at about $16,043,000. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Price Performance

NYSE:ELAN opened at $14.65 on Thursday. The company has a market cap 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. The firm’s fifty day moving average price is $13.89 and its two-hundred day moving average price is $15.17. Elanco Animal Health Incorporated has a one year low of $8.52 and a one year high of $18.80. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.93 and a quick ratio of 1.75.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The business 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%. Elanco Animal Health’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 EPS. Equities analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ELAN. Piper Sandler lowered their target price on Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. Barclays lowered their price objective on shares of Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.57.

Insider Activity at Elanco Animal Health

In other Elanco Animal Health news, Director Michael J. Harrington acquired 3,500 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was acquired 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 of the company’s stock, valued at $1,204,245.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Michael J. Harrington acquired 3,500 shares of the 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 purchase, the director now directly owns 81,094 shares in the company, valued at $1,204,245.90. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey N. Simmons acquired 100,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $13.01 per share, with a total value of $1,301,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 145,000 shares in the company, valued at $1,886,450. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by corporate insiders.

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.