Elanco Animal Health Incorporated (NYSE:ELAN) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 363.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,548,506 shares of the company’s stock after acquiring an additional 1,214,123 shares during the period. Assenagon Asset Management S.A.’s holdings in Elanco Animal Health were worth $22,748,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. increased its stake in shares of Elanco Animal Health by 337.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock valued at $26,000 after purchasing an additional 1,361 shares during the period. ORG Wealth Partners LLC acquired a new stake in Elanco Animal Health in the 3rd quarter valued at approximately $29,000. ORG Partners LLC bought a new stake in Elanco Animal Health during the 2nd quarter valued at $31,000. nVerses Capital LLC bought a new stake in Elanco Animal Health during the 2nd quarter valued at $32,000. Finally, Quarry LP acquired a new position in Elanco Animal Health during the 2nd quarter worth $40,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ELAN shares. Piper Sandler cut 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 research note on Monday, July 1st. Barclays upped their price target on shares of Elanco Animal Health from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $20.00 target price on shares of Elanco Animal Health in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Elanco Animal Health currently has a consensus rating of “Hold” and an average price target of $17.43.

Insiders Place Their Bets

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

Elanco Animal Health Stock Up 0.1 %

NYSE ELAN opened at $12.40 on Friday. The company has a market capitalization of $6.13 billion, a P/E ratio of -4.68, a PEG ratio of 1.53 and a beta of 1.40. Elanco Animal Health Incorporated has a 12 month low of $8.52 and a 12 month high of $18.80. The company’s 50 day simple moving average is $14.32 and its 200 day simple moving average is $14.79. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.93 and a quick ratio of 1.75.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 EPS. Equities research analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

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.