Rhumbline Advisers Sells 15,127 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Rhumbline Advisers cut its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 481,069 shares of the company’s stock after selling 15,127 shares during the period. Rhumbline Advisers owned about 0.10% of Elanco Animal Health worth $6,942,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ELAN. Victory Capital Management Inc. grew its stake in Elanco Animal Health by 22.2% in the 4th quarter. Victory Capital Management Inc. now owns 65,512 shares of the company’s stock valued at $976,000 after purchasing an additional 11,910 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Elanco Animal Health during the fourth quarter worth about $913,000. ING Groep NV bought a new stake in Elanco Animal Health in the fourth quarter worth about $1,062,000. Norges Bank purchased a new position in Elanco Animal Health in the fourth quarter valued at about $62,510,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Elanco Animal Health during the 4th quarter valued at approximately $1,991,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Up 0.6 %

Shares of Elanco Animal Health stock opened at $14.47 on Friday. The company has a 50-day simple moving average of $13.87 and a two-hundred day simple moving average of $15.21. Elanco Animal Health Incorporated has a 52-week low of $8.52 and a 52-week high of $18.80. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93. The stock has a market capitalization of $7.15 billion, a PE ratio of -5.46, a price-to-earnings-growth ratio of 1.44 and a beta of 1.40.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data 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. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm posted $0.18 EPS. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. On average, analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ELAN. Piper Sandler lowered 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. Barclays lowered their price target on shares of Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Elanco Animal Health currently has an average rating of “Moderate Buy” and a consensus target price of $17.57.

Insiders Place Their Bets

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

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.