Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. trimmed its stake in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 48.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 219,735 shares of the company's stock after selling 209,536 shares during the quarter. Panagora Asset Management Inc.'s holdings in Elanco Animal Health were worth $3,171,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. ORG Partners LLC purchased a new position in shares of Elanco Animal Health in the 2nd quarter worth about $31,000. Jones Financial Companies Lllp purchased a new position in Elanco Animal Health in the fourth quarter worth about $37,000. Global Financial Private Client LLC bought a new position in shares of Elanco Animal Health in the first quarter worth approximately $72,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Elanco Animal Health during the second quarter valued at approximately $158,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Elanco Animal Health by 16.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 11,438 shares of the company's stock valued at $165,000 after acquiring an additional 1,637 shares in the last quarter. 97.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Barclays lowered their price objective 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 lowered their price target on Elanco Animal Health from $19.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Elanco Animal Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.57.

Elanco Animal Health Stock Performance

ELAN stock traded up $0.18 during trading on Friday, reaching $15.47. The stock had a trading volume of 3,683,662 shares, compared to its average volume of 4,822,884. The firm has a market cap of $7.64 billion, a PE ratio of -5.84, a PEG ratio of 1.27 and a beta of 1.42. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.95. The stock's 50 day moving average is $13.96 and its two-hundred day moving average is $15.30. Elanco Animal Health Incorporated has a 52 week low of $8.52 and a 52 week high of $18.80.

Elanco Animal Health (NYSE:ELAN - Get Free Report) 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. The firm 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 29.83% and a positive return on equity of 5.98%. The business'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 earned $0.18 EPS. As a group, equities analysts anticipate that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current year.

Insider Activity

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