ORG Wealth Partners LLC Purchases New Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

ORG Wealth Partners LLC acquired a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 1,982 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Elanco Animal Health by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock worth $737,083,000 after buying an additional 467,196 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Elanco Animal Health by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock worth $360,425,000 after acquiring an additional 852,281 shares in the last quarter. Ancora Advisors LLC lifted its holdings in Elanco Animal Health by 1.4% in the first quarter. Ancora Advisors LLC now owns 10,641,194 shares of the company’s stock valued at $173,239,000 after acquiring an additional 143,326 shares during the period. Magnetar Financial LLC boosted its position in shares of Elanco Animal Health by 61.2% during the 2nd quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock worth $120,298,000 after purchasing an additional 3,164,350 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Elanco Animal Health by 11.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,990,546 shares of the company’s stock worth $86,444,000 after purchasing an additional 609,194 shares during the period. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ELAN has been the subject of several recent analyst reports. Piper Sandler reduced their price objective 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. Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price target on shares of Elanco Animal Health in a research report on Thursday, September 19th. Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $17.00 to $15.00 in a research note on Thursday, September 19th. Finally, Barclays raised their price objective on Elanco Animal Health from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.43.

Elanco Animal Health Trading Down 2.9 %

Shares of Elanco Animal Health stock opened at $13.95 on Wednesday. The business has a 50 day moving average price of $14.46 and a 200 day moving average price of $14.94. The company has a market capitalization of $6.89 billion, a P/E ratio of -5.26, a P/E/G ratio of 1.53 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. Elanco Animal Health Incorporated has a 1 year low of $8.52 and a 1 year high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.06. The business had revenue of $1.18 billion for 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 business’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 earnings per share. Sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insider Transactions at Elanco Animal Health

In other Elanco Animal Health news, CEO Jeffrey N. Simmons bought 100,000 shares of Elanco Animal Health stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the transaction, the chief executive officer now owns 145,000 shares of the company’s stock, valued at $1,886,450. This represents a 200.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Michael J. Harrington acquired 3,500 shares of the stock in a transaction dated Thursday, August 22nd. The stock was bought at an average cost of $14.85 per share, with a total value of $51,975.00. Following the purchase, the director now directly owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, with a total value of $1,301,000.00. Following the completion of the acquisition, the chief executive officer now owns 145,000 shares in the company, valued at approximately $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. Insiders own 0.57% of the company’s stock.

Elanco Animal Health 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.