Van ECK Associates Corp Has $15.19 Million Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Van ECK Associates Corp cut its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 9.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,052,332 shares of the company's stock after selling 107,479 shares during the quarter. Van ECK Associates Corp owned 0.21% of Elanco Animal Health worth $15,185,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of Elanco Animal Health by 22.2% in the fourth quarter. Victory Capital Management Inc. now owns 65,512 shares of the company's stock worth $976,000 after buying an additional 11,910 shares during the period. National Bank of Canada FI boosted its position in Elanco Animal Health by 331.6% during the 4th quarter. National Bank of Canada FI now owns 758,000 shares of the company's stock worth $11,097,000 after acquiring an additional 582,355 shares during the period. Channing Capital Management LLC boosted its position in Elanco Animal Health by 2.9% during the 4th quarter. Channing Capital Management LLC now owns 558,221 shares of the company's stock worth $8,317,000 after acquiring an additional 15,606 shares during the period. Private Advisor Group LLC grew its stake in Elanco Animal Health by 9.8% during the 4th quarter. Private Advisor Group LLC now owns 148,087 shares of the company's stock valued at $2,206,000 after acquiring an additional 13,185 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Elanco Animal Health by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,732,872 shares of the company's stock valued at $70,520,000 after purchasing an additional 21,692 shares during the period. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ELAN shares. Piper Sandler lowered 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 report on Monday, July 1st. 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 note on Friday, June 28th. One research 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $17.57.

Insider Activity

In other news, CEO Jeffrey N. Simmons acquired 100,000 shares of Elanco Animal Health stock in a transaction on Monday, August 12th. The stock was bought at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the transaction, the chief executive officer now owns 145,000 shares of the company's stock, valued at $1,886,450. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Elanco Animal Health 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 price 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 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 link. Also, Director Michael J. Harrington acquired 3,500 shares of Elanco Animal Health stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average cost of $14.85 per share, with a total value 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 disclosure for this purchase can be found here. 0.57% of the stock is owned by company insiders.

Elanco Animal Health Stock Performance

NYSE:ELAN traded up $0.18 during midday trading on Monday, reaching $15.47. The stock had a trading volume of 3,683,800 shares, compared to its average volume of 4,822,885. The stock has a market capitalization of $7.65 billion, a P/E ratio of -5.84, a PEG ratio of 1.54 and a beta of 1.42. Elanco Animal Health Incorporated has a 1-year low of $8.52 and a 1-year high of $18.80. 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 firm's fifty day simple moving average is $13.91 and its 200-day simple moving average is $15.29.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share 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 the consensus estimate of $1.15 billion. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. The firm'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 company earned $0.18 EPS. On average, equities research analysts forecast that Elanco Animal Health Incorporated will post 0.91 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.