Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,802,763 shares of the company’s stock after selling 82,305 shares during the quarter. Primecap Management Co. CA owned about 10.68% of Elanco Animal Health worth $761,944,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ELAN. Victory Capital Management Inc. increased its stake in shares of Elanco Animal Health by 22.2% during the fourth quarter. Victory Capital Management Inc. now owns 65,512 shares of the company’s stock valued at $976,000 after acquiring an additional 11,910 shares during the period. Janney Montgomery Scott LLC acquired a new position in Elanco Animal Health in the fourth quarter worth approximately $913,000. ING Groep NV acquired a new position in Elanco Animal Health in the fourth quarter worth approximately $1,062,000. Norges Bank acquired a new position in Elanco Animal Health in the fourth quarter worth approximately $62,510,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Elanco Animal Health in the fourth quarter worth approximately $1,991,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

Elanco Animal Health Trading Up 0.4 %

Elanco Animal Health stock opened at $14.53 on Tuesday. The company has a 50 day moving average price of $13.88 and a 200 day moving average price of $15.19. Elanco Animal Health Incorporated has a 52 week low of $8.52 and a 52 week high of $18.80. 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 firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of -5.48, a P/E/G ratio of 1.44 and a beta of 1.40.

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

Insider Buying and Selling at Elanco Animal Health

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Piper Sandler decreased their price target on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. Barclays decreased their price target on shares of 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. 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.57.

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.