SFE Investment Counsel Reduces Position in Elanco Animal Health Incorporated (NYSE:ELAN)

SFE Investment Counsel trimmed its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 3.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,970 shares of the company’s stock after selling 900 shares during the period. SFE Investment Counsel’s holdings in Elanco Animal Health were worth $797,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ELAN. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Elanco Animal Health by 13.1% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 9,313,251 shares of the company’s stock valued at $274,276,000 after purchasing an additional 1,078,211 shares during the period. Atria Investments LLC increased its stake in Elanco Animal Health by 10.1% in the 1st quarter. Atria Investments LLC now owns 43,597 shares of the company’s stock worth $1,284,000 after buying an additional 4,017 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Elanco Animal Health by 76.3% during the first quarter. Victory Capital Management Inc. now owns 251,187 shares of the company’s stock valued at $7,397,000 after acquiring an additional 108,721 shares during the period. IFM Investors Pty Ltd lifted its position in shares of Elanco Animal Health by 20.3% in the second quarter. IFM Investors Pty Ltd now owns 59,075 shares of the company’s stock valued at $2,049,000 after acquiring an additional 9,972 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Elanco Animal Health by 8.8% in the first quarter. HighTower Advisors LLC now owns 104,595 shares of the company’s stock worth $3,095,000 after acquiring an additional 8,458 shares during the period. 99.58% of the stock is currently owned by institutional investors.

ELAN has been the topic of several research analyst reports. Cleveland Research upgraded shares of Elanco Animal Health from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 15th. Credit Suisse Group started coverage on Elanco Animal Health in a research note on Thursday, August 5th. They set an “outperform” rating and a $38.00 price target for the company. Finally, Zacks Investment Research cut Elanco Animal Health from a “buy” rating to a “hold” rating in a report on Friday, June 18th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $37.75.

In other Elanco Animal Health news, Director Michael J. Harrington acquired 3,000 shares of the stock in a transaction dated Wednesday, August 11th. The stock was purchased at an average price of $28.98 per share, with a total value of $86,940.00. Following the transaction, the director now directly owns 25,684 shares of the company’s stock, valued at $744,322.32. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Elanco Animal Health Inc purchased 45,508,938 shares of the firm’s stock in a transaction on Friday, August 27th. The stock was acquired at an average price of $9.25 per share, with a total value of $420,957,676.50. The disclosure for this purchase can be found here. Insiders have purchased a total of 45,528,788 shares of company stock valued at $421,545,062 over the last 90 days. 6.11% of the stock is currently owned by company insiders.

NYSE:ELAN traded down $0.56 during midday trading on Wednesday, hitting $32.36. The stock had a trading volume of 32,224 shares, compared to its average volume of 3,797,877. The stock has a 50-day moving average of $33.79 and a 200 day moving average of $33.05. The company has a market capitalization of $15.31 billion, a price-to-earnings ratio of -21.95, a PEG ratio of 0.66 and a beta of 0.83. Elanco Animal Health Incorporated has a one year low of $25.76 and a one year high of $37.49. The company has a quick ratio of 1.00, a current ratio of 1.72 and a debt-to-equity ratio of 0.69.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data on Sunday, August 8th. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.24 billion. Elanco Animal Health had a negative net margin of 16.02% and a positive return on equity of 5.24%. The firm’s revenue for the quarter was up 118.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.09) earnings per share. On average, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 1.01 earnings per share for the current fiscal year.

About Elanco Animal Health

Elanco Animal Health, Inc engages in the innovation, development, manufacture and market products for companion and food animals. It offers products through the following four categories: Companion Animal Disease Prevention, Companion Animal Therapeutics, Food Animal Future Protein & Health, and Food Animal Ruminants & Swine.

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

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