Elanco Animal Health Incorporated (NYSE:ELAN) Shares Acquired by Headlands Technologies LLC

Headlands Technologies LLC lifted its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 2,484.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,204 shares of the company’s stock after purchasing an additional 28,074 shares during the period. Headlands Technologies LLC’s holdings in Elanco Animal Health were worth $421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Choreo LLC acquired a new position in shares of Elanco Animal Health during the second quarter valued at approximately $620,000. Private Management Group Inc. increased its position in shares of Elanco Animal Health by 25.7% during the second quarter. Private Management Group Inc. now owns 887,203 shares of the company’s stock worth $12,802,000 after purchasing an additional 181,306 shares in the last quarter. Great Lakes Advisors LLC acquired a new position in Elanco Animal Health in the 2nd quarter valued at $16,043,000. Los Angeles Capital Management LLC purchased a new position in Elanco Animal Health in the 2nd quarter valued at $170,000. Finally, Arizona State Retirement System boosted its stake in Elanco Animal Health by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 138,324 shares of the company’s stock worth $1,996,000 after purchasing an additional 2,892 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Elanco Animal Health Price Performance

Shares of ELAN stock opened at $14.39 on Friday. 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 company has a market capitalization of $7.11 billion, a PE ratio of -5.43, a price-to-earnings-growth ratio of 1.50 and a beta of 1.40. The firm’s 50-day moving average is $13.86 and its two-hundred day moving average is $15.22. Elanco Animal Health Incorporated has a 12 month low of $8.52 and a 12 month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the company earned $0.18 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. Analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ELAN. Piper Sandler reduced their target price on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. Barclays cut their price objective on shares of Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.57.

Insider Buying and Selling at Elanco Animal Health

In other Elanco Animal Health news, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction dated Thursday, August 22nd. The stock was acquired 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. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Jeffrey N. Simmons bought 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the acquisition, the chief executive officer now owns 145,000 shares of the company’s stock, valued at $1,886,450. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Harrington purchased 3,500 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were purchased at an average price of $14.85 per share, for a total transaction of $51,975.00. Following the completion of the purchase, the director now directly owns 81,094 shares of the company’s stock, valued at $1,204,245.90. The disclosure for this purchase can be found here. Company insiders own 0.57% of the company’s stock.

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.