2,794 Shares in Elanco Animal Health Incorporated (NYSE:ELAN) Acquired by Quarry LP

Quarry LP bought a new stake in Elanco Animal Health Incorporated (NYSE:ELAN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,794 shares of the company’s stock, valued at approximately $40,000.

Several other large investors also recently added to or reduced their stakes in ELAN. Canada Pension Plan Investment Board purchased a new stake in Elanco Animal Health in the 2nd quarter valued at $55,599,000. Magnetar Financial LLC grew its holdings in Elanco Animal Health by 61.2% in the 2nd quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock valued at $120,298,000 after buying an additional 3,164,350 shares in the last quarter. Wolf Hill Capital Management LP purchased a new position in shares of Elanco Animal Health during the 4th quarter worth $20,683,000. Great Lakes Advisors LLC purchased a new position in shares of Elanco Animal Health during the 2nd quarter worth $16,043,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Elanco Animal Health by 4.0% during 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 purchasing an additional 852,281 shares during the period. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Piper Sandler lowered their price target 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. Barclays increased their price target on Elanco Animal Health from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price target on shares of Elanco Animal Health in a report on Thursday, September 19th. Finally, Morgan Stanley cut Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered 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 assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.43.

Elanco Animal Health Price Performance

ELAN opened at $14.66 on Friday. The stock’s 50-day moving average price is $14.21 and its 200 day moving average price is $15.04. Elanco Animal Health Incorporated has a 12-month low of $8.52 and a 12-month high of $18.80. The company has a current ratio of 2.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.92. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of -5.53, a PEG ratio of 1.33 and a beta of 1.40.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. Elanco Animal Health’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. As a group, sell-side analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Buying and Selling at Elanco Animal Health

In related news, Director Michael J. Harrington purchased 3,500 shares of Elanco Animal Health stock in a transaction on Thursday, August 22nd. The shares were bought at an average price of $14.85 per share, with a total value of $51,975.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elanco Animal Health news, Director Michael J. Harrington bought 3,500 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average price of $14.85 per share, with a total value of $51,975.00. Following the transaction, the director now owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey N. Simmons bought 100,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost 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 in the company, valued at approximately $1,886,450. This represents a 200.00 % increase in their position. The disclosure for this purchase can be found here. 0.57% of the stock is owned by corporate insiders.

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.