Davidson Kempner Capital Management LP Makes New Investment in Elanco Animal Health Incorporated (NYSE:ELAN)

Davidson Kempner Capital Management LP acquired a new stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 58,143 shares of the company’s stock, valued at approximately $839,000.

A number of other large investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its stake in Elanco Animal Health by 337.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock worth $26,000 after buying an additional 1,361 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Elanco Animal Health during the 2nd quarter valued at about $32,000. ORG Partners LLC acquired a new stake in shares of Elanco Animal Health during the 2nd quarter valued at about $31,000. Jones Financial Companies Lllp bought a new stake in Elanco Animal Health in the fourth quarter valued at about $37,000. Finally, Global Financial Private Client LLC acquired a new position in Elanco Animal Health in the first quarter worth about $72,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELAN has been the topic of a number of recent research reports. Morgan Stanley downgraded Elanco Animal Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $17.00 to $15.00 in a report on Thursday. 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. Barclays reduced their target price on shares of Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. Finally, Piper Sandler dropped their target price 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.29.

Elanco Animal Health Price Performance

Shares of ELAN stock opened at $14.07 on Monday. Elanco Animal Health Incorporated has a 52 week low of $8.52 and a 52 week high of $18.80. The stock has a market capitalization of $6.95 billion, a PE ratio of -5.31, a PEG ratio of 1.44 and a beta of 1.40. 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 stock’s fifty day moving average is $13.95 and its 200-day moving average is $15.14.

Elanco Animal Health (NYSE:ELAN) last issued 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 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 quarter in the prior year, the firm earned $0.18 EPS. The company’s revenue was up 12.0% on a year-over-year basis. Equities research analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling at Elanco Animal Health

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

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.