Oppenheimer Asset Management Inc. Boosts Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Oppenheimer Asset Management Inc. boosted its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 51.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,291 shares of the company’s stock after purchasing an additional 6,191 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Elanco Animal Health were worth $264,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ELAN. Janney Montgomery Scott LLC purchased a new position in Elanco Animal Health during the fourth quarter worth approximately $913,000. Norges Bank acquired a new stake in shares of Elanco Animal Health in the fourth quarter worth $62,510,000. UBS Group AG increased its position in shares of Elanco Animal Health by 63.8% in the fourth quarter. UBS Group AG now owns 1,117,196 shares of the company’s stock worth $16,646,000 after acquiring an additional 435,291 shares in the last quarter. Commerce Bank increased its position in shares of Elanco Animal Health by 3.8% in the fourth quarter. Commerce Bank now owns 33,665 shares of the company’s stock worth $502,000 after acquiring an additional 1,223 shares in the last quarter. Finally, Linscomb & Williams Inc. increased its position in shares of Elanco Animal Health by 6.1% in the fourth quarter. Linscomb & Williams Inc. now owns 69,631 shares of the company’s stock worth $1,038,000 after acquiring an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Price Performance

ELAN opened at $14.07 on Friday. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of -5.31, a PEG ratio of 1.44 and a beta of 1.40. The company has a current ratio of 2.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.92. Elanco Animal Health Incorporated has a twelve month low of $8.52 and a twelve month high of $18.80. The company has a fifty day simple moving average of $13.95 and a 200 day simple moving average of $15.15.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.06. The company had revenue of $1.18 billion during 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 for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. Equities research analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

ELAN has been the subject of several recent research reports. Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $17.00 to $15.00 in a research report on Thursday. Piper Sandler dropped their price objective on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price target on shares of Elanco Animal Health in a report on Thursday. Finally, Barclays lowered their price target on shares of Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.29.

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.