Assenagon Asset Management S.A. Sells 587,425 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Assenagon Asset Management S.A. lowered its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 63.7% in the second quarter, Holdings Channel reports. The fund owned 334,383 shares of the company’s stock after selling 587,425 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Elanco Animal Health were worth $4,825,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Elanco Animal Health in the first quarter worth about $1,226,000. Vanguard Group Inc. lifted its holdings in shares of Elanco Animal Health by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock worth $737,083,000 after acquiring an additional 467,196 shares during the last quarter. Bank of Nova Scotia bought a new position in shares of Elanco Animal Health in the fourth quarter worth about $4,004,000. Wolf Hill Capital Management LP bought a new position in shares of Elanco Animal Health in the fourth quarter worth about $20,683,000. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Elanco Animal Health in the first quarter worth about $4,956,000. Institutional investors own 97.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ELAN. Piper Sandler lowered their price objective on 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. Barclays lowered their price objective on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.57.

Insider Buying and Selling at Elanco Animal Health

In other news, CEO Jeffrey N. Simmons bought 100,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the transaction, the chief executive officer now owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other Elanco Animal Health news, Director William F. Doyle purchased 15,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were purchased at an average cost of $16.98 per share, for a total transaction of $254,700.00. Following the acquisition, the director now owns 76,330 shares of the company’s stock, valued at $1,296,083.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey N. Simmons purchased 100,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 145,000 shares in the company, valued at approximately $1,886,450. The disclosure for this purchase can be found here. Insiders own 0.57% of the company’s stock.

Elanco Animal Health Stock Performance

Elanco Animal Health stock opened at $14.49 on Monday. The company has a market capitalization of $7.16 billion, a P/E ratio of -5.47, a P/E/G ratio of 1.27 and a beta of 1.42. The business has a 50 day moving average of $14.60 and a 200-day moving average of $15.35. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.29 and a quick ratio of 1.96. 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 released its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Elanco Animal Health had a negative net margin of 29.83% and a positive return on equity of 5.98%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. On average, equities research analysts predict that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current year.

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.