Choreo LLC Makes New $620,000 Investment in Elanco Animal Health Incorporated (NYSE:ELAN)

Choreo LLC purchased a new stake in Elanco Animal Health Incorporated (NYSE:ELAN) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 43,942 shares of the company’s stock, valued at approximately $620,000.

A number of other institutional investors have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Elanco Animal Health during the first quarter valued at $1,226,000. Vanguard Group Inc. grew its position in Elanco Animal Health by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock worth $737,083,000 after purchasing an additional 467,196 shares during the last quarter. Bank of Nova Scotia acquired a new stake in shares of Elanco Animal Health in the fourth quarter valued at approximately $4,004,000. Wolf Hill Capital Management LP bought a new stake in shares of Elanco Animal Health during the fourth quarter valued at approximately $20,683,000. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Elanco Animal Health during the first quarter valued at approximately $4,956,000. Institutional investors own 97.48% of the company’s stock.

Insider Buying and Selling

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

Elanco Animal Health Stock Up 0.6 %

Shares of ELAN stock opened at $14.47 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93. The stock has a market cap of $7.15 billion, a PE ratio of -5.46, a price-to-earnings-growth ratio of 1.44 and a beta of 1.40. The business’s fifty day moving average is $13.87 and its 200-day moving average is $15.20. 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 results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping 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 analysts’ expectations of $1.15 billion. During the same period in the previous year, the business earned $0.18 earnings per share. Elanco Animal Health’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ELAN has been the topic of several analyst reports. 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 report on Friday, June 28th. Piper Sandler cut their price objective on shares of 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 analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.57.

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.