Jacobs & Co. CA cut its stake in shares of Elanco Animal Health (NYSE:ELAN) by 2.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 16,987 shares of the company’s stock after selling 445 shares during the period. Jacobs & Co. CA’s holdings in Elanco Animal Health were worth $451,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Kavi Asset Management LP acquired a new position in Elanco Animal Health during the 2nd quarter worth approximately $3,948,000. First Republic Investment Management Inc. lifted its position in Elanco Animal Health by 3.6% during the 2nd quarter. First Republic Investment Management Inc. now owns 62,611 shares of the company’s stock worth $2,116,000 after acquiring an additional 2,171 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Elanco Animal Health by 509.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,716,444 shares of the company’s stock valued at $58,016,000 after purchasing an additional 1,434,910 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Elanco Animal Health by 11.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,530,402 shares of the company’s stock valued at $85,528,000 after purchasing an additional 265,051 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Elanco Animal Health by 390.8% in the 2nd quarter. Mackenzie Financial Corp now owns 489,520 shares of the company’s stock valued at $16,546,000 after purchasing an additional 389,785 shares in the last quarter.
In other news, major shareholder Dawei Li purchased 1,384,717 shares of the stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $1.05 per share, for a total transaction of $1,453,952.85. Also, CEO Jeffrey N. Simmons purchased 75,750 shares of the stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average price of $26.55 per share, with a total value of $2,011,162.50. Following the completion of the acquisition, the chief executive officer now directly owns 470,006 shares in the company, valued at approximately $12,478,659.30. The disclosure for this purchase can be found here. Insiders bought a total of 1,497,497 shares of company stock valued at $4,457,115 over the last quarter. Company insiders own 0.04% of the company’s stock.
Shares of ELAN traded up $0.31 during trading on Friday, reaching $27.23. The company’s stock had a trading volume of 3,676,022 shares, compared to its average volume of 5,298,131. The company has a fifty day moving average of $26.87 and a two-hundred day moving average of $30.28. Elanco Animal Health has a twelve month low of $25.51 and a twelve month high of $35.46. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 23.08 and a beta of 0.69. The company has a quick ratio of 1.71, a current ratio of 3.07 and a debt-to-equity ratio of 0.45.
Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. Elanco Animal Health had a return on equity of 7.83% and a net margin of 4.69%. The company had revenue of $771.30 million for the quarter, compared to analyst estimates of $765.85 million. During the same period in the prior year, the company posted $0.29 EPS. Elanco Animal Health’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities analysts forecast that Elanco Animal Health will post 1.08 EPS for the current fiscal year.
A number of brokerages have issued reports on ELAN. Goldman Sachs Group began coverage on Elanco Animal Health in a research report on Monday, September 9th. They issued a “positive” rating on the stock. They noted that the move was a valuation call. Barclays began coverage on Elanco Animal Health in a research report on Monday, September 23rd. They issued an “overweight” rating and a $36.00 target price on the stock. Cleveland Research reaffirmed a “hold” rating on shares of Elanco Animal Health in a research report on Thursday, September 26th. UBS Group raised Elanco Animal Health from a “sell” rating to a “neutral” rating and cut their target price for the company from $31.00 to $30.00 in a research report on Thursday, August 15th. Finally, Bank of America lowered Elanco Animal Health from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $33.41.
About Elanco Animal Health
Elanco Animal Health Incorporated, an animal health company, develops, manufactures, and markets products for companion and food animals. The company offers companion animal disease prevention products, such as parasiticide products that protect pets from worms, fleas, and ticks; companion animal therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications; vaccines, nutritional enzymes, and animal-only antibiotics; and a range of food animal products used in ruminant and swine production.
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