Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by New World Advisors LLC

New World Advisors LLC lessened its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 14.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 20,150 shares of the company’s stock after selling 3,500 shares during the quarter. New World Advisors LLC’s holdings in Elanco Animal Health were worth $291,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new stake in shares of Elanco Animal Health during the second quarter worth $31,000. nVerses Capital LLC acquired a new position in Elanco Animal Health during the second quarter valued at $32,000. Jones Financial Companies Lllp acquired a new position in Elanco Animal Health during the fourth quarter valued at $37,000. Global Financial Private Client LLC acquired a new position in Elanco Animal Health during the first quarter valued at $72,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Elanco Animal Health during the second quarter valued at $158,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

Insider Activity at Elanco Animal Health

In other news, CEO Jeffrey N. Simmons purchased 100,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the acquisition, the chief executive officer now directly owns 145,000 shares in the company, valued at approximately $1,886,450. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Jeffrey N. Simmons purchased 100,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the acquisition, the chief executive officer now directly owns 145,000 shares in the company, valued at approximately $1,886,450. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael J. Harrington purchased 3,500 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was purchased at an average cost of $14.85 per share, with a total value of $51,975.00. Following the acquisition, the director now owns 81,094 shares in the company, valued at $1,204,245.90. The disclosure for this purchase can be found here. 0.57% of the stock is owned by corporate insiders.

Elanco Animal Health Stock Performance

NYSE:ELAN traded down $0.05 during mid-day trading on Wednesday, hitting $15.09. 560,593 shares of the company’s stock traded hands, compared to its average volume of 4,792,257. The firm has a 50 day moving average of $13.85 and a two-hundred day moving average of $15.28. Elanco Animal Health Incorporated has a 12 month low of $8.52 and a 12 month high of $18.80. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of -5.72, a price-to-earnings-growth ratio of 1.54 and a beta of 1.42. The company has a current ratio of 2.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.92.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the company earned $0.18 EPS. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, equities analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on ELAN. Piper Sandler lowered their target price 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. Barclays lowered their target price on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Elanco Animal Health presently has an average rating of “Moderate Buy” and a consensus price target of $17.57.

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.