Elanco Animal Health Incorporated (NYSE:ELAN) Shares Bought by Hedeker Wealth LLC

Hedeker Wealth LLC lifted its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 30.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 129,264 shares of the company’s stock after acquiring an additional 30,254 shares during the period. Hedeker Wealth LLC’s holdings in Elanco Animal Health were worth $1,899,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new stake in Elanco Animal Health in the 2nd quarter valued at approximately $55,599,000. Magnetar Financial LLC lifted its position in shares of Elanco Animal Health by 61.2% in the second quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock valued at $120,298,000 after acquiring an additional 3,164,350 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Elanco Animal Health by 363.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock valued at $22,748,000 after acquiring an additional 1,214,123 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Elanco Animal Health during the second quarter valued at $16,043,000. Finally, Price T Rowe Associates Inc. MD increased its position in Elanco Animal Health by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock worth $360,425,000 after purchasing an additional 852,281 shares in the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Elanco Animal Health Trading Up 0.1 %

NYSE:ELAN traded up $0.01 during trading hours on Tuesday, reaching $12.52. 333,870 shares of the company were exchanged, compared to its average volume of 4,731,963. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of -4.72, a PEG ratio of 1.32 and a beta of 1.40. 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 stock has a 50 day simple moving average of $14.27 and a 200 day simple moving average of $14.77. Elanco Animal Health Incorporated has a 52-week low of $8.59 and a 52-week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The firm had revenue of $1.18 billion during 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 firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. As a group, analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Analyst Upgrades and Downgrades

ELAN has been the topic of a number of recent research reports. Barclays reduced their target price on shares of Elanco Animal Health from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday. Morgan Stanley downgraded 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 reaffirmed a “buy” rating and issued a $20.00 target price on shares of Elanco Animal Health in a research note on Thursday, September 19th. Finally, Piper Sandler reduced their price target on 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.00.

Insider Activity at Elanco Animal Health

In related news, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average cost of $14.85 per share, for a total transaction of $51,975.00. Following the acquisition, the director now owns 81,094 shares in the company, valued at approximately $1,204,245.90. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Michael J. Harrington purchased 3,500 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was purchased 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. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey N. Simmons acquired 100,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the purchase, the chief executive officer now directly owns 145,000 shares of the company’s stock, 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. 0.57% of the stock is currently owned by 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.