Lecap Asset Management Ltd. Trims Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Lecap Asset Management Ltd. cut its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 63.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,709 shares of the company's stock after selling 37,784 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Elanco Animal Health were worth $313,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in Elanco Animal Health during the 4th quarter worth about $62,510,000. Dimensional Fund Advisors LP raised its position in shares of Elanco Animal Health by 33.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,095,179 shares of the company's stock worth $224,920,000 after acquiring an additional 3,816,514 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of Elanco Animal Health by 2.9% during the fourth quarter. Primecap Management Co. CA now owns 50,600,324 shares of the company's stock valued at $753,945,000 after acquiring an additional 1,431,665 shares during the period. Wolf Hill Capital Management LP bought a new position in Elanco Animal Health in the fourth quarter valued at about $20,683,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Elanco Animal Health by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company's stock worth $360,425,000 after purchasing an additional 852,281 shares during the last quarter. Institutional investors own 97.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ELAN. Barclays dropped their target price on shares of Elanco Animal Health from $23.00 to $21.00 and set an "overweight" rating for the company in a research report on Friday, June 28th. Piper Sandler lowered their price target 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Elanco Animal Health presently has an average rating of "Moderate Buy" and a consensus price target of $17.57.

Insider Buying and Selling

In related news, CEO Jeffrey N. Simmons purchased 100,000 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $13.01 per share, with a total value of $1,301,000.00. Following the acquisition, the chief executive officer now directly owns 145,000 shares in the company, valued at $1,886,450. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.57% of the stock is owned by insiders.

Elanco Animal Health Stock Down 1.6 %

Shares of NYSE:ELAN traded down $0.24 during midday trading on Thursday, reaching $14.62. The company had a trading volume of 2,986,760 shares, compared to its average volume of 4,864,027. The business's 50 day moving average price is $14.40 and its 200 day moving average price is $15.34. Elanco Animal Health Incorporated has a 1-year low of $8.52 and a 1-year high of $18.80. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.95. The stock has a market cap of $7.22 billion, a PE ratio of -5.52, a P/E/G ratio of 1.27 and a beta of 1.42.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.06. Elanco Animal Health had a negative net margin of 29.83% and a positive return on equity of 5.98%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm posted $0.18 EPS. The company's quarterly revenue was up 12.0% on a year-over-year basis. Research analysts forecast that Elanco Animal Health Incorporated will post 0.93 EPS for the current fiscal year.

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.