Jupiter Asset Management Ltd. Has $4.96 Million Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Jupiter Asset Management Ltd. lifted its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 13.0% during the second quarter, Holdings Channel.com reports. The firm owned 343,992 shares of the company’s stock after purchasing an additional 39,548 shares during the period. Jupiter Asset Management Ltd.’s holdings in Elanco Animal Health were worth $4,964,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ELAN. Norges Bank bought a new stake in Elanco Animal Health during the 4th quarter valued at $62,510,000. Primecap Management Co. CA increased its position in shares of Elanco Animal Health by 2.9% during the fourth quarter. Primecap Management Co. CA now owns 50,600,324 shares of the company’s stock worth $753,945,000 after acquiring an additional 1,431,665 shares in the last quarter. Wolf Hill Capital Management LP acquired a new stake in shares of Elanco Animal Health in the 4th quarter worth about $20,683,000. Great Lakes Advisors LLC bought a new position in Elanco Animal Health in the 2nd quarter valued at about $16,043,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in 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 valued at $360,425,000 after purchasing an additional 852,281 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ELAN shares. Barclays lowered their price objective 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. Piper Sandler dropped their price objective on Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.57.

Elanco Animal Health Stock Performance

Shares of ELAN opened at $14.47 on Friday. The stock has a 50 day moving average of $13.87 and a 200 day moving average of $15.21. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of -5.46, a PEG ratio of 1.44 and a beta of 1.40. 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.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.06. The firm 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 business’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. As a group, sell-side analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

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.