Bank of Montreal Can Reduces Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Bank of Montreal Can lowered its position in Elanco Animal Health Incorporated (NYSE:ELANGet Rating) by 40.1% in the second quarter, HoldingsChannel reports. The firm owned 538,468 shares of the company’s stock after selling 360,134 shares during the period. Bank of Montreal Can’s holdings in Elanco Animal Health were worth $11,093,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Herold Advisors Inc. purchased a new stake in shares of Elanco Animal Health in the first quarter valued at about $26,000. Tcwp LLC purchased a new stake in shares of Elanco Animal Health in the first quarter valued at about $29,000. IndexIQ Advisors LLC purchased a new stake in shares of Elanco Animal Health in the first quarter valued at about $32,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Elanco Animal Health by 147.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,556 shares of the company’s stock valued at $41,000 after purchasing an additional 928 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Elanco Animal Health by 165.9% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,981 shares of the company’s stock valued at $52,000 after purchasing an additional 1,236 shares during the period. Hedge funds and other institutional investors own 98.15% of the company’s stock.

Wall Street Analysts Forecast Growth

ELAN has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on shares of Elanco Animal Health from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 15th. The Goldman Sachs Group decreased their target price on shares of Elanco Animal Health from $19.00 to $12.00 and set a “sell” rating on the stock in a research report on Wednesday, November 9th. William Blair reaffirmed a “market perform” rating on shares of Elanco Animal Health in a research report on Tuesday, November 8th. Piper Sandler decreased their target price on shares of Elanco Animal Health from $21.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday, November 14th. Finally, TheStreet cut shares of Elanco Animal Health from a “c-” rating to a “d+” rating in a research report on Tuesday, October 4th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.83.

Insider Activity at Elanco Animal Health

In other news, Director R David Hoover bought 20,000 shares of Elanco Animal Health stock in a transaction that occurred on Friday, September 9th. The shares were purchased at an average price of $15.18 per share, with a total value of $303,600.00. Following the completion of the acquisition, the director now directly owns 145,000 shares in the company, valued at $2,201,100. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director R David Hoover bought 20,000 shares of Elanco Animal Health stock in a transaction that occurred on Friday, September 9th. The shares were purchased at an average price of $15.18 per share, with a total value of $303,600.00. Following the completion of the acquisition, the director now directly owns 145,000 shares in the company, valued at $2,201,100. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey N. Simmons bought 30,000 shares of Elanco Animal Health stock in a transaction that occurred on Friday, September 9th. The stock was purchased at an average cost of $14.54 per share, for a total transaction of $436,200.00. Following the acquisition, the chief executive officer now owns 30,000 shares of the company’s stock, valued at $436,200. The disclosure for this purchase can be found here. Insiders have bought a total of 64,200 shares of company stock valued at $938,930 over the last 90 days. 6.40% of the stock is owned by corporate insiders.

Elanco Animal Health Stock Down 1.7 %

Shares of ELAN opened at $12.21 on Thursday. The company’s 50-day simple moving average is $12.77 and its 200-day simple moving average is $17.49. The stock has a market capitalization of $5.79 billion, a PE ratio of -50.87, a P/E/G ratio of 6.14 and a beta of 0.92. Elanco Animal Health Incorporated has a 1 year low of $11.34 and a 1 year high of $31.98. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.12 and a current ratio of 1.96.

About Elanco Animal Health

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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.

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

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