AQR Capital Management LLC Buys 20,318 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

AQR Capital Management LLC grew its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 39.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,235 shares of the company’s stock after buying an additional 20,318 shares during the quarter. AQR Capital Management LLC’s holdings in Elanco Animal Health were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Davidson Kempner Capital Management LP purchased a new position in Elanco Animal Health in the second quarter worth about $839,000. Magnetar Financial LLC lifted 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 worth $120,298,000 after buying an additional 3,164,350 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Elanco Animal Health during the 2nd quarter valued at about $589,000. Sei Investments Co. grew its holdings in Elanco Animal Health by 3.6% during the 2nd quarter. Sei Investments Co. now owns 1,061,967 shares of the company’s stock valued at $15,324,000 after buying an additional 37,145 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Elanco Animal Health in the second quarter valued at $55,599,000. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Trading Down 1.2 %

Elanco Animal Health stock opened at $14.34 on Friday. Elanco Animal Health Incorporated has a 52 week low of $8.52 and a 52 week high of $18.80. 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 company has a market capitalization of $7.09 billion, a price-to-earnings ratio of -5.62, a price-to-earnings-growth ratio of 1.53 and a beta of 1.40. The stock has a 50-day moving average price of $14.38 and a 200 day moving average price of $14.99.

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

Insider Activity at Elanco Animal Health

In other Elanco Animal Health news, Director Michael J. Harrington bought 3,500 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was bought 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 directly owns 81,094 shares in the company, valued at $1,204,245.90. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jeffrey N. Simmons acquired 100,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was acquired 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 owns 145,000 shares in the company, valued at approximately $1,886,450. This trade represents a 200.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Harrington bought 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was bought at an average cost of $14.85 per share, for a total transaction of $51,975.00. Following the completion of the transaction, the director now directly owns 81,094 shares in the company, valued at approximately $1,204,245.90. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ELAN shares. Stifel Nicolaus restated a “buy” rating and set a $20.00 price objective on shares of Elanco Animal Health in a research report on Thursday, September 19th. Barclays lifted their target price on Elanco Animal Health from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Piper Sandler cut their price objective on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Finally, Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $17.00 to $15.00 in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Elanco Animal Health currently has an average rating of “Hold” and a consensus price target of $17.43.

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.