Elanco Animal Health Incorporated (NYSE:ELAN) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 11.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,800 shares of the company’s stock after purchasing an additional 12,900 shares during the period. Handelsbanken Fonder AB’s holdings in Elanco Animal Health were worth $1,833,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ELAN. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Elanco Animal Health during the 1st quarter worth about $1,226,000. Vanguard Group Inc. raised its position in shares of Elanco Animal Health by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock worth $737,083,000 after buying an additional 467,196 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Elanco Animal Health during the 1st quarter worth about $4,956,000. Davidson Kempner Capital Management LP bought a new stake in shares of Elanco Animal Health during the 2nd quarter worth about $839,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of 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 worth $360,425,000 after buying an additional 852,281 shares in the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Elanco Animal Health

In related news, CEO Jeffrey N. Simmons acquired 100,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost 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 owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. This trade represents a 200.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Elanco Animal Health news, Director Michael J. Harrington bought 3,500 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was bought at an average cost of $14.85 per share, with a total value 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 approximately $1,204,245.90. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey N. Simmons acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $13.01 per share, with a total value of $1,301,000.00. Following the completion of the acquisition, the chief executive officer now owns 145,000 shares in the company, valued at $1,886,450. This trade represents a 200.00 % increase in their position. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Stifel Nicolaus restated a “buy” rating and set a $20.00 price target on shares of Elanco Animal Health in a research report on Thursday, September 19th. Piper Sandler dropped their target price on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Morgan Stanley downgraded shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $17.00 to $15.00 in a report on Thursday, September 19th. Finally, Barclays boosted their target price on shares of Elanco Animal Health from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $17.43.

Elanco Animal Health Stock Down 0.5 %

ELAN stock opened at $14.52 on Friday. Elanco Animal Health Incorporated has a 52-week low of $8.52 and a 52-week high of $18.80. The company’s 50 day simple moving average is $14.34 and its 200-day simple moving average is $15.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.93 and a quick ratio of 1.75. The firm has a market capitalization of $7.18 billion, a P/E ratio of -5.48, a P/E/G ratio of 1.33 and a beta of 1.40.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $0.18 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. As a group, equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS 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.