Van ECK Associates Corp Decreases Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Van ECK Associates Corp lessened its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 13.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 908,739 shares of the company’s stock after selling 143,593 shares during the quarter. Van ECK Associates Corp owned 0.18% of Elanco Animal Health worth $13,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ELAN. Price T Rowe Associates Inc. MD increased its holdings in Elanco Animal Health by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock valued at $360,425,000 after buying an additional 852,281 shares in the last quarter. Ancora Advisors LLC increased its stake in Elanco Animal Health by 1.4% in the 1st quarter. Ancora Advisors LLC now owns 10,641,194 shares of the company’s stock valued at $173,239,000 after purchasing an additional 143,326 shares in the last quarter. Magnetar Financial LLC increased its stake in Elanco Animal Health by 61.2% in the 2nd quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock valued at $120,298,000 after purchasing an additional 3,164,350 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Elanco Animal Health by 11.3% during the second quarter. The Manufacturers Life Insurance Company now owns 5,990,546 shares of the company’s stock worth $86,444,000 after purchasing an additional 609,194 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Elanco Animal Health during the second quarter worth $55,599,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays cut their price target on Elanco Animal Health from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a report on Thursday, September 19th. Finally, Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $17.00 to $15.00 in a research note on Thursday, September 19th. 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. According to MarketBeat.com, Elanco Animal Health currently has an average rating of “Hold” and a consensus target price of $17.00.

Insiders Place Their Bets

In related news, CEO Jeffrey N. Simmons acquired 100,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the purchase, the chief executive officer now directly owns 145,000 shares in the company, valued at $1,886,450. The trade was a 200.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jeffrey N. Simmons acquired 100,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $13.01 per share, with a total value of $1,301,000.00. Following the purchase, the chief executive officer now directly owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. This represents a 200.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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, 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 approximately $1,204,245.90. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.57% of the stock is owned by corporate insiders.

Elanco Animal Health Price Performance

Elanco Animal Health stock opened at $12.67 on Wednesday. The stock has a market capitalization of $6.26 billion, a P/E ratio of -4.98, a P/E/G ratio of 1.32 and a beta of 1.41. Elanco Animal Health Incorporated has a 12-month low of $9.26 and a 12-month high of $18.80. 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’s 50-day moving average is $14.07 and its two-hundred day moving average is $14.73.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Thursday, August 8th. The company reported $0.30 EPS 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 firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company earned $0.18 EPS. Elanco Animal Health’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities analysts predict 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.