Amalgamated Bank Cuts Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Amalgamated Bank lowered its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 4.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,984 shares of the company’s stock after selling 1,332 shares during the period. Amalgamated Bank’s holdings in Elanco Animal Health were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its holdings in shares of Elanco Animal Health by 32.8% in the 1st quarter. Russell Investments Group Ltd. now owns 46,571 shares of the company’s stock worth $758,000 after acquiring an additional 11,490 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Elanco Animal Health by 5.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 506,292 shares of the company’s stock valued at $8,242,000 after buying an additional 24,966 shares in the last quarter. Linscomb Wealth Inc. raised its stake in shares of Elanco Animal Health by 10.8% during the 1st quarter. Linscomb Wealth Inc. now owns 77,147 shares of the company’s stock worth $1,256,000 after buying an additional 7,516 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Elanco Animal Health by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock worth $360,425,000 after buying an additional 852,281 shares in the last quarter. Finally, Redmile Group LLC acquired a new stake in Elanco Animal Health in the 1st quarter valued at about $11,006,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Insider Activity

In other news, Director Michael J. Harrington bought 3,500 shares of the firm’s stock in a transaction dated 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 acquisition, the director now owns 81,094 shares of the company’s stock, valued at $1,204,245.90. This trade represents a 4.51 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.57% of the company’s stock.

Elanco Animal Health Stock Performance

NYSE ELAN opened at $13.98 on Monday. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $6.91 billion, a PE ratio of 34.95, a price-to-earnings-growth ratio of 1.46 and a beta of 1.41. The business’s 50-day moving average price is $13.82 and its 200 day moving average price is $14.77. Elanco Animal Health Incorporated has a twelve month low of $11.20 and a twelve month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the company earned $0.18 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, research analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ELAN. Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $17.00 to $15.00 in a research report on Thursday, September 19th. Stifel Nicolaus reissued a “buy” rating and set a $20.00 price objective on shares of Elanco Animal Health in a research note on Thursday, September 19th. Finally, Barclays upped their target price on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Elanco Animal Health presently has a consensus rating of “Hold” and a consensus target price of $17.14.

Elanco Animal Health Company 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.