Creative Planning Acquires 3,801 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Creative Planning boosted its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 7.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 52,177 shares of the company’s stock after purchasing an additional 3,801 shares during the quarter. Creative Planning’s holdings in Elanco Animal Health were worth $753,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Algert Global LLC grew its position in Elanco Animal Health by 22.6% during the 2nd quarter. Algert Global LLC now owns 262,298 shares of the company’s stock valued at $3,785,000 after purchasing an additional 48,358 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new stake in Elanco Animal Health during the 2nd quarter valued at about $2,561,000. The Manufacturers Life Insurance Company grew its position in Elanco Animal Health by 11.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,990,546 shares of the company’s stock valued at $86,444,000 after purchasing an additional 609,194 shares during the last quarter. AQR Capital Management LLC grew its position in Elanco Animal Health by 39.9% during the 2nd quarter. AQR Capital Management LLC now owns 71,235 shares of the company’s stock valued at $1,028,000 after purchasing an additional 20,318 shares during the last quarter. Finally, Davidson Kempner Capital Management LP purchased a new stake in shares of Elanco Animal Health during the 2nd quarter valued at about $839,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Elanco Animal Health Stock Performance

ELAN opened at $14.37 on Friday. The company has a current ratio of 2.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.92. The company has a market cap of $7.10 billion, a price-to-earnings ratio of -5.64, a PEG ratio of 1.53 and a beta of 1.40. The company’s 50 day moving average is $14.38 and its 200 day moving average is $14.98. Elanco Animal Health Incorporated has a 12-month low of $8.52 and a 12-month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping 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 company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the business earned $0.18 EPS. The firm’s revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Wall Street Analyst Weigh In

ELAN has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of Elanco Animal Health from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price target on shares of Elanco Animal Health in a report on Thursday, September 19th. Morgan Stanley downgraded shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $17.00 to $15.00 in a report on Thursday, September 19th. Finally, Piper Sandler dropped their price objective 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Elanco Animal Health presently has a consensus rating of “Hold” and a consensus price target of $17.43.

Insider Activity

In related news, CEO Jeffrey N. Simmons acquired 100,000 shares of Elanco Animal Health stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the transaction, the chief executive officer now directly owns 145,000 shares in the company, valued at approximately $1,886,450. This represents a 200.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Elanco Animal Health news, Director Michael J. Harrington bought 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average cost of $14.85 per share, with a total value of $51,975.00. Following the completion of the acquisition, the director now owns 81,094 shares in the company, valued at $1,204,245.90. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey N. Simmons bought 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired 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 of the company’s stock, valued at $1,886,450. This represents a 200.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.57% of the company’s stock.

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.