Signaturefd LLC Lowers Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Signaturefd LLC cut its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 9.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,432 shares of the company’s stock after selling 820 shares during the quarter. Signaturefd LLC’s holdings in Elanco Animal Health were worth $109,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Elanco Animal Health by 337.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock worth $26,000 after purchasing an additional 1,361 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Elanco Animal Health in the third quarter worth approximately $29,000. ORG Partners LLC purchased a new stake in shares of Elanco Animal Health in the second quarter worth approximately $31,000. nVerses Capital LLC bought a new position in shares of Elanco Animal Health in the second quarter valued at approximately $32,000. Finally, Quarry LP bought a new position in shares of Elanco Animal Health in the second quarter valued at approximately $40,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ELAN. Piper Sandler reduced their price objective on Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, July 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a report on Thursday, September 19th. Barclays cut their price target on Elanco Animal Health from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Monday. Finally, Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $17.00 to $15.00 in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.00.

Elanco Animal Health Trading Up 0.8 %

Shares of ELAN stock opened at $12.51 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93. Elanco Animal Health Incorporated has a 52-week low of $8.59 and a 52-week high of $18.80. The company has a market capitalization of $6.18 billion, a PE ratio of -4.91, a price-to-earnings-growth ratio of 1.32 and a beta of 1.40. The business’s fifty day moving average is $14.27 and its 200 day moving average is $14.77.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share (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 company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business posted $0.18 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts anticipate 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, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction on Thursday, August 22nd. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $1,204,245.90. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction on Thursday, August 22nd. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $1,204,245.90. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey N. Simmons purchased 100,000 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $13.01 per share, for a total transaction 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 approximately $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.

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.