Elanco Animal Health Incorporated (NYSE:ELAN) Shares Bought by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. grew its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 6.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 252,019 shares of the company’s stock after buying an additional 14,653 shares during the period. Dana Investment Advisors Inc. owned 0.05% of Elanco Animal Health worth $3,637,000 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 company. Truist Financial Corp grew its position in Elanco Animal Health by 47.7% during 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 during the period. Brandes Investment Partners LP lifted its stake in shares of Elanco Animal Health by 1.3% in the 2nd quarter. Brandes Investment Partners LP now owns 2,945,967 shares of the company’s stock valued at $42,445,000 after purchasing an additional 36,944 shares in the last quarter. Quarry LP purchased a new stake in shares of Elanco Animal Health during the 2nd quarter worth about $40,000. Creative Planning increased its position in Elanco Animal Health by 7.9% during the 2nd quarter. Creative Planning now owns 52,177 shares of the company’s stock worth $753,000 after purchasing an additional 3,801 shares in the last quarter. Finally, Algert Global LLC raised its holdings in Elanco Animal Health by 22.6% in the second quarter. Algert Global LLC now owns 262,298 shares of the company’s stock valued at $3,785,000 after buying an additional 48,358 shares during the period. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Elanco Animal Health

In other news, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average price of $14.85 per share, for a total transaction of $51,975.00. Following the completion of the transaction, the director now owns 81,094 shares of the company’s stock, valued at $1,204,245.90. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Elanco Animal Health news, Director Michael J. Harrington acquired 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, for a total transaction of $51,975.00. Following the completion of the transaction, the director now owns 81,094 shares in the company, valued at approximately $1,204,245.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey N. Simmons purchased 100,000 shares of the firm’s stock in a transaction dated 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 purchase, the chief executive officer now owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by company insiders.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN opened at $14.51 on Wednesday. The company has a market cap of $7.17 billion, a PE ratio of -5.48, a P/E/G ratio of 1.33 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. The firm has a 50-day simple moving average of $14.11 and a 200 day simple moving average of $15.05. The company has a quick ratio of 1.75, a current ratio of 2.93 and a debt-to-equity ratio of 0.92.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings results 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. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm earned $0.18 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays boosted their price objective 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. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a report on Thursday, September 19th. Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Finally, Piper Sandler decreased 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 research note on Monday, July 1st. One investment 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 currently has a consensus rating of “Hold” and a consensus price target of $17.43.

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.