Envestnet Asset Management Inc. Buys 101,669 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Envestnet Asset Management Inc. increased its stake in Elanco Animal Health Incorporated (NYSE:ELANGet Rating) by 14.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 810,863 shares of the company’s stock after purchasing an additional 101,669 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.17% of Elanco Animal Health worth $21,155,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ELAN. Dodge & Cox raised its holdings in Elanco Animal Health by 510.5% during the 4th quarter. Dodge & Cox now owns 22,218,300 shares of the company’s stock valued at $630,555,000 after acquiring an additional 18,579,176 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in Elanco Animal Health by 141.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,909,411 shares of the company’s stock valued at $110,949,000 after acquiring an additional 2,287,366 shares during the period. Bank of Montreal Can raised its holdings in Elanco Animal Health by 300.0% during the 4th quarter. Bank of Montreal Can now owns 1,670,325 shares of the company’s stock valued at $47,981,000 after acquiring an additional 1,252,733 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Elanco Animal Health by 42.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,784,198 shares of the company’s stock valued at $107,394,000 after acquiring an additional 1,125,644 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Elanco Animal Health by 11.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 10,564,063 shares of the company’s stock valued at $299,808,000 after acquiring an additional 1,113,073 shares during the period.

Elanco Animal Health Stock Down 0.9 %

Shares of NYSE:ELAN opened at $19.44 on Wednesday. Elanco Animal Health Incorporated has a 52-week low of $19.11 and a 52-week high of $36.76. The firm has a fifty day moving average of $21.25 and a 200 day moving average of $24.18. The firm has a market capitalization of $9.22 billion, a PE ratio of -26.27, a price-to-earnings-growth ratio of 1.00 and a beta of 0.79. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.41 and a current ratio of 2.44.

Elanco Animal Health (NYSE:ELANGet Rating) last announced its earnings results on Monday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Elanco Animal Health had a negative net margin of 7.65% and a positive return on equity of 6.61%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business earned $0.37 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Elanco Animal Health Incorporated will post 1.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director John P. Bilbrey bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was bought at an average cost of $22.03 per share, for a total transaction of $220,300.00. Following the completion of the transaction, the director now owns 34,222 shares of the company’s stock, valued at $753,910.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ELAN. Piper Sandler began coverage on shares of Elanco Animal Health in a report on Monday, July 11th. They set a “neutral” rating and a $22.00 target price on the stock. Stifel Nicolaus reduced their price target on shares of Elanco Animal Health from $30.00 to $22.00 and set a “hold” rating for the company in a research report on Friday, June 24th. The Goldman Sachs Group lowered shares of Elanco Animal Health from a “buy” rating to a “sell” rating and reduced their price target for the company from $32.00 to $19.00 in a research report on Thursday, July 21st. Finally, Morgan Stanley reduced their price target on shares of Elanco Animal Health to $37.00 and set an “overweight” rating for the company in a research report on Tuesday, May 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $28.33.

Elanco Animal Health Profile

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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.

Further Reading

Institutional Ownership by Quarter for Elanco Animal Health (NYSE:ELAN)

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