Elanco Animal Health Incorporated (NYSE:ELAN) Shares Acquired by AMG National Trust Bank

AMG National Trust Bank grew its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 6.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,665 shares of the company’s stock after buying an additional 7,641 shares during the quarter. AMG National Trust Bank’s holdings in Elanco Animal Health were worth $1,871,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Elanco Animal Health in the 1st quarter valued at approximately $1,226,000. Vanguard Group Inc. lifted its holdings in shares of Elanco Animal Health by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock valued at $737,083,000 after buying an additional 467,196 shares during the period. Bank of Nova Scotia acquired a new stake in shares of Elanco Animal Health in the 4th quarter valued at approximately $4,004,000. Wolf Hill Capital Management LP acquired a new position in Elanco Animal Health during the fourth quarter worth $20,683,000. Finally, Jupiter Asset Management Ltd. acquired a new position in Elanco Animal Health during the first quarter worth $4,956,000. 97.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ELAN shares. Piper Sandler reduced their price objective 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 reduced their price objective on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Elanco Animal Health presently has a consensus rating of “Moderate Buy” and an average price target of $17.57.

Elanco Animal Health Stock Performance

Elanco Animal Health stock opened at $14.57 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.96 and a current ratio of 3.29. The stock has a fifty day moving average of $14.26 and a two-hundred day moving average of $15.32. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of -5.50, a PEG ratio of 1.27 and a beta of 1.42. 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 released its quarterly earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. Elanco Animal Health’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. On average, analysts anticipate that Elanco Animal Health Incorporated will post 0.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other Elanco Animal Health news, CEO Jeffrey N. Simmons acquired 100,000 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the completion of the transaction, the chief executive officer now directly owns 145,000 shares in the company, valued at $1,886,450. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.57% of the stock is currently owned by company 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.