Hardman Johnston Global Advisors LLC Reduces Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Hardman Johnston Global Advisors LLC lowered its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,278,270 shares of the company’s stock after selling 37,540 shares during the quarter. Hardman Johnston Global Advisors LLC owned about 0.26% of Elanco Animal Health worth $18,778,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ELAN. 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 worth $26,000 after purchasing an additional 1,361 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in Elanco Animal Health during the third quarter valued at approximately $29,000. ORG Partners LLC purchased a new position in Elanco Animal Health during the second quarter valued at approximately $31,000. nVerses Capital LLC purchased a new position in Elanco Animal Health during the second quarter valued at approximately $32,000. Finally, Quarry LP purchased a new position in Elanco Animal Health during the second quarter valued at approximately $40,000. 97.48% of the stock is currently owned by institutional investors.

Elanco Animal Health Trading Up 0.9 %

Shares of ELAN opened at $12.67 on Wednesday. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of -4.97, a PEG ratio of 1.32 and a beta of 1.41. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93. Elanco Animal Health Incorporated has a fifty-two week low of $9.26 and a fifty-two week high of $18.80. The firm has a 50 day moving average price of $14.02 and a 200-day moving average price of $14.73.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ELAN. Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a research note on Thursday, September 19th. Finally, Barclays cut their price target on shares of 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. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Elanco Animal Health presently has an average rating of “Hold” and a consensus price target of $17.00.

Insider Activity at Elanco Animal Health

In other news, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was bought 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 of the company’s stock, valued at $1,204,245.90. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was bought 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 of the company’s stock, valued at $1,204,245.90. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 price 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 directly owns 145,000 shares in the company, valued at $1,886,450. The trade was a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by company insiders.

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.