Elanco Animal Health Incorporated (NYSE:ELAN) Stock Holdings Raised by New World Advisors LLC

New World Advisors LLC lifted its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 28.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,800 shares of the company’s stock after purchasing an additional 5,650 shares during the period. New World Advisors LLC’s holdings in Elanco Animal Health were worth $379,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Country Club Bank bought a new position in Elanco Animal Health during the 3rd quarter worth approximately $1,925,000. Assenagon Asset Management S.A. raised its position in shares of Elanco Animal Health by 363.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock valued at $22,748,000 after acquiring an additional 1,214,123 shares in the last quarter. Keene & Associates Inc. lifted its stake in Elanco Animal Health by 5.7% during the third quarter. Keene & Associates Inc. now owns 22,945 shares of the company’s stock worth $337,000 after purchasing an additional 1,240 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Elanco Animal Health by 70.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,515 shares of the company’s stock worth $287,000 after purchasing an additional 8,077 shares during the period. Finally, Blue Trust Inc. increased its stake in Elanco Animal Health by 2,129.2% during the third quarter. Blue Trust Inc. now owns 3,968 shares of the company’s stock valued at $57,000 after purchasing an additional 3,790 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Elanco Animal Health Price Performance

ELAN stock traded up $0.02 during trading on Friday, hitting $12.41. The company had a trading volume of 2,839,366 shares, compared to its average volume of 4,282,793. The business has a 50 day moving average of $14.32 and a 200 day moving average of $14.79. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of -4.87, a P/E/G ratio of 1.32 and a beta of 1.40. The company has a current ratio of 2.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.92. Elanco Animal Health Incorporated has a fifty-two week low of $8.52 and a fifty-two week high of $18.80.

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

Analyst Ratings Changes

Several research analysts have recently commented on ELAN shares. Piper Sandler decreased their price target on shares of 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 research report on Monday, September 23rd. Stifel Nicolaus restated a “buy” rating and set a $20.00 price objective on shares of Elanco Animal Health in a research report on Thursday, September 19th. Finally, Morgan Stanley downgraded shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $17.00 to $15.00 in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.43.

Insider Activity at Elanco Animal Health

In other Elanco Animal Health news, CEO Jeffrey N. Simmons purchased 100,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the transaction, the chief executive officer now owns 145,000 shares in the company, valued at $1,886,450. The trade was a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jeffrey N. Simmons purchased 100,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the completion of the acquisition, the chief executive officer now owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. This represents a 200.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael J. Harrington bought 3,500 shares of Elanco Animal Health stock in a transaction dated Thursday, August 22nd. The shares were bought at an average cost of $14.85 per share, with a total value of $51,975.00. Following the completion of the acquisition, the director now owns 81,094 shares of the company’s stock, valued at $1,204,245.90. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.57% of the company’s stock.

Elanco Animal Health Profile

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.