Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 9.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,632 shares of the company’s stock after acquiring an additional 9,510 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Elanco Animal Health were worth $1,524,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. ORG Partners LLC bought a new stake in shares of Elanco Animal Health in the second quarter worth $31,000. Jones Financial Companies Lllp bought a new stake in shares of Elanco Animal Health during the 4th quarter valued at about $37,000. Global Financial Private Client LLC purchased a new stake in shares of Elanco Animal Health during the 1st quarter valued at about $72,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Elanco Animal Health during the second quarter valued at approximately $158,000. Finally, Allspring Global Investments Holdings LLC raised its position in Elanco Animal Health by 16.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 11,438 shares of the company’s stock worth $165,000 after acquiring an additional 1,637 shares during the period. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Elanco Animal Health

In other Elanco Animal Health news, Director Michael J. Harrington acquired 3,500 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was acquired at an average cost of $14.85 per share, with a total value of $51,975.00. Following the purchase, the director now directly owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Michael J. Harrington acquired 3,500 shares of the stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average cost of $14.85 per share, with a total value of $51,975.00. Following the purchase, the director now directly owns 81,094 shares of the company’s stock, valued at $1,204,245.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey N. Simmons bought 100,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the acquisition, the chief executive officer now owns 145,000 shares in the company, valued at approximately $1,886,450. The disclosure for this purchase can be found here. 0.57% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler cut their price objective on Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. Barclays cut their price target on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.57.

Elanco Animal Health Stock Up 1.2 %

ELAN opened at $15.47 on Monday. Elanco Animal Health Incorporated has a 52 week low of $8.52 and a 52 week high of $18.80. The company has a quick ratio of 1.75, a current ratio of 2.93 and a debt-to-equity ratio of 0.92. The firm has a 50-day simple moving average of $13.96 and a two-hundred day simple moving average of $15.29. The company has a market capitalization of $7.65 billion, a PE ratio of -5.84, a price-to-earnings-growth ratio of 1.54 and a beta of 1.42.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The company had revenue of $1.18 billion during 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%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. Analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Elanco Animal Health Company 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.