Private Management Group Inc. Purchases 181,306 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Private Management Group Inc. grew its holdings in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 25.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 887,203 shares of the company's stock after purchasing an additional 181,306 shares during the quarter. Private Management Group Inc. owned about 0.18% of Elanco Animal Health worth $12,802,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ELAN. Great Lakes Advisors LLC bought a new stake in shares of Elanco Animal Health in the second quarter valued at about $16,043,000. Los Angeles Capital Management LLC bought a new stake in shares of Elanco Animal Health in the second quarter valued at about $170,000. Arizona State Retirement System lifted its stake in shares of Elanco Animal Health by 2.1% in the second quarter. Arizona State Retirement System now owns 138,324 shares of the company's stock valued at $1,996,000 after buying an additional 2,892 shares during the period. VELA Investment Management LLC bought a new stake in shares of Elanco Animal Health in the second quarter valued at about $197,000. Finally, TD Asset Management Inc lifted its stake in shares of Elanco Animal Health by 13.5% in the second quarter. TD Asset Management Inc now owns 379,342 shares of the company's stock valued at $5,474,000 after buying an additional 45,203 shares during the period. 97.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on ELAN shares. Barclays cut their price target on shares of Elanco Animal Health from $23.00 to $21.00 and set an "overweight" rating for the company in a research note on Friday, June 28th. Piper Sandler cut their price target on shares of 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 analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $17.57.

Insider Activity at Elanco Animal Health

In related news, CEO Jeffrey N. Simmons purchased 100,000 shares of the 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 completion of the acquisition, the chief executive officer now directly owns 145,000 shares in the company, valued at approximately $1,886,450. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elanco Animal Health news, CEO Jeffrey N. Simmons bought 100,000 shares of the stock in a transaction on Monday, August 12th. The stock was 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 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 through the SEC website. Also, Director Michael J. Harrington bought 3,500 shares of the stock in a transaction on 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 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 currently owned by company insiders.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN traded down $0.31 during trading on Monday, reaching $14.78. The stock had a trading volume of 4,168,148 shares, compared to its average volume of 4,791,788. Elanco Animal Health Incorporated has a 52 week low of $8.52 and a 52 week high of $18.80. The business's 50-day moving average price is $13.83 and its 200 day moving average price is $15.26. 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 stock has a market capitalization of $7.30 billion, a PE ratio of -5.58, a P/E/G ratio of 1.50 and a beta of 1.40.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted 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. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. Elanco Animal Health's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current 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.