Sofinnova Investments Inc. Invests $3.98 Million in Phibro Animal Health Co. (NASDAQ:PAHC)

Sofinnova Investments Inc. purchased a new position in shares of Phibro Animal Health Co. (NASDAQ:PAHC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 237,009 shares of the company’s stock, valued at approximately $3,975,000. Sofinnova Investments Inc. owned about 0.59% of Phibro Animal Health as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Brandes Investment Partners LP raised its stake in Phibro Animal Health by 13.7% during the fourth quarter. Brandes Investment Partners LP now owns 2,130,107 shares of the company’s stock valued at $24,667,000 after buying an additional 256,807 shares in the last quarter. American Century Companies Inc. raised its position in shares of Phibro Animal Health by 119.6% during the 2nd quarter. American Century Companies Inc. now owns 347,191 shares of the company’s stock valued at $5,822,000 after acquiring an additional 189,068 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Phibro Animal Health by 32.8% in the first quarter. Acadian Asset Management LLC now owns 675,207 shares of the company’s stock worth $8,726,000 after purchasing an additional 166,776 shares during the period. Wellington Management Group LLP increased its stake in Phibro Animal Health by 165.9% during the fourth quarter. Wellington Management Group LLP now owns 164,764 shares of the company’s stock valued at $1,908,000 after purchasing an additional 102,793 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Phibro Animal Health by 290.2% in the 4th quarter. BNP Paribas Financial Markets now owns 73,287 shares of the company’s stock worth $849,000 after buying an additional 54,506 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Phibro Animal Health

In other Phibro Animal Health news, Director E Thomas Corcoran bought 5,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $20.02 per share, with a total value of $100,100.00. Following the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at $500,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 50.06% of the company’s stock.

Phibro Animal Health Trading Down 2.1 %

Shares of NASDAQ:PAHC opened at $21.53 on Tuesday. The company has a quick ratio of 1.64, a current ratio of 2.94 and a debt-to-equity ratio of 1.79. The company’s 50-day moving average price is $18.99 and its 200 day moving average price is $16.68. The company has a market cap of $872.03 million, a PE ratio of 67.28, a P/E/G ratio of 1.70 and a beta of 0.52. Phibro Animal Health Co. has a fifty-two week low of $9.40 and a fifty-two week high of $22.31.

Phibro Animal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.23%. Phibro Animal Health’s dividend payout ratio (DPR) is presently 150.00%.

Analysts Set New Price Targets

Several research firms recently weighed in on PAHC. JPMorgan Chase & Co. started coverage on shares of Phibro Animal Health in a research note on Tuesday, September 10th. They set a “neutral” rating and a $22.00 price objective on the stock. Bank of America increased their price target on Phibro Animal Health from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Friday, August 30th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Phibro Animal Health presently has an average rating of “Hold” and a consensus price target of $15.00.

About Phibro Animal Health

Phibro Animal Health Corporation operates as an animal health and mineral nutrition company in the United States, Israel, Brazil, Ireland, and internationally. It operates through three segments: Animal Health, Mineral Nutrition, and Performance Products. The company develops, manufactures, and markets various products for food and companion animals including poultry, swine, beef and dairy cattle, aquaculture, and dogs.