Elanco Animal Health Incorporated (NYSE:ELAN) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 11.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,990,546 shares of the company’s stock after purchasing an additional 609,194 shares during the period. The Manufacturers Life Insurance Company’s holdings in Elanco Animal Health were worth $86,444,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ELAN. AQR Capital Management LLC raised its stake in shares of Elanco Animal Health by 39.9% in the second quarter. AQR Capital Management LLC now owns 71,235 shares of the company’s stock valued at $1,028,000 after acquiring an additional 20,318 shares in the last quarter. Davidson Kempner Capital Management LP acquired a new stake in shares of Elanco Animal Health in the second quarter valued at $839,000. Magnetar Financial LLC raised its stake in shares of Elanco Animal Health by 61.2% in the second quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock valued at $120,298,000 after acquiring an additional 3,164,350 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Elanco Animal Health in the second quarter valued at $589,000. Finally, Sei Investments Co. increased its holdings in Elanco Animal Health by 3.6% in the second quarter. Sei Investments Co. now owns 1,061,967 shares of the company’s stock valued at $15,324,000 after buying an additional 37,145 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elanco Animal Health

In other news, Director Michael J. Harrington acquired 3,500 shares of Elanco Animal Health stock in a transaction that occurred 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 in the company, valued at $1,204,245.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jeffrey N. Simmons purchased 100,000 shares of Elanco Animal Health stock in a transaction dated Monday, August 12th. The stock was bought 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 in the company, valued at $1,886,450. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael J. Harrington purchased 3,500 shares of Elanco Animal Health stock in a transaction dated Thursday, August 22nd. The shares were bought at an average price of $14.85 per share, with a total value of $51,975.00. Following the completion of the transaction, the director now owns 81,094 shares in the company, valued at approximately $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 Price Performance

Shares of ELAN opened at $14.32 on Friday. Elanco Animal Health Incorporated has a fifty-two week low of $8.52 and a fifty-two week high of $18.80. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of -5.40, a price-to-earnings-growth ratio of 1.33 and a beta of 1.40. The firm has a 50-day simple moving average of $14.05 and a 200-day simple moving average of $15.08. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93.

Elanco Animal Health (NYSE:ELAN) last announced its 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. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $17.00 to $15.00 in a report on Thursday, September 19th. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price objective on shares of Elanco Animal Health in a report on Thursday, September 19th. Barclays raised their price objective on Elanco Animal Health from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, 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 report on Monday, July 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.43.

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.