Douglas Lane & Associates LLC Acquires 37,349 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Douglas Lane & Associates LLC raised its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,767,784 shares of the company’s stock after purchasing an additional 37,349 shares during the quarter. Douglas Lane & Associates LLC owned 0.76% of Elanco Animal Health worth $55,349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Handelsbanken Fonder AB lifted its position in shares of Elanco Animal Health by 11.5% during the third quarter. Handelsbanken Fonder AB now owns 124,800 shares of the company’s stock worth $1,833,000 after purchasing an additional 12,900 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Elanco Animal Health during the second quarter worth $781,000. Dana Investment Advisors Inc. lifted its position in shares of Elanco Animal Health by 6.2% during the second quarter. Dana Investment Advisors Inc. now owns 252,019 shares of the company’s stock worth $3,637,000 after purchasing an additional 14,653 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Elanco Animal Health by 47.7% in the second quarter. Truist Financial Corp now owns 62,964 shares of the company’s stock valued at $909,000 after acquiring an additional 20,341 shares in the last quarter. Finally, Brandes Investment Partners LP raised its holdings in shares of Elanco Animal Health by 1.3% in the second quarter. Brandes Investment Partners LP now owns 2,945,967 shares of the company’s stock valued at $42,445,000 after acquiring an additional 36,944 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors.

Elanco Animal Health Stock Performance

ELAN traded down $0.15 on Friday, reaching $14.37. 2,800,846 shares of the stock were exchanged, compared to its average volume of 4,782,067. 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 company’s 50-day moving average price is $14.38 and its 200 day moving average price is $14.98. The firm has a market capitalization of $7.10 billion, a PE ratio of -5.64, a PEG ratio of 1.53 and a beta of 1.40. Elanco Animal Health Incorporated has a fifty-two week low of $8.52 and a fifty-two week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, sell-side analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ELAN. Morgan Stanley downgraded Elanco Animal Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $17.00 to $15.00 in a report on Thursday, September 19th. Stifel Nicolaus restated a “buy” rating and issued a $20.00 price objective on shares of Elanco Animal Health in a report on Thursday, September 19th. Barclays lifted their price objective on Elanco Animal Health from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, Piper Sandler reduced their target price on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, July 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Elanco Animal Health presently has a consensus rating of “Hold” and an average price target of $17.43.

Insider Activity

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

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.