TD Asset Management Inc Boosts Position in Elanco Animal Health Incorporated (NYSE:ELAN)

TD Asset Management Inc grew its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 13.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 379,342 shares of the company's stock after purchasing an additional 45,203 shares during the period. TD Asset Management Inc owned approximately 0.08% of Elanco Animal Health worth $5,474,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ELAN. ORG Partners LLC acquired a new stake in shares of Elanco Animal Health in the second quarter valued at about $31,000. nVerses Capital LLC acquired a new stake in shares of Elanco Animal Health during the 2nd quarter valued at approximately $32,000. Jones Financial Companies Lllp purchased a new stake in shares of Elanco Animal Health during the 4th quarter worth approximately $37,000. Global Financial Private Client LLC purchased a new stake in shares of Elanco Animal Health during the 1st quarter worth approximately $72,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Elanco Animal Health in the 2nd quarter worth approximately $158,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Piper Sandler decreased their target price on 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 objective 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.57.

Elanco Animal Health Price Performance

Shares of ELAN traded down $0.09 during trading hours on Thursday, reaching $14.39. 2,284,211 shares of the company traded hands, compared to its average volume of 4,755,902. The stock has a fifty day simple moving average of $13.86 and a 200 day simple moving average of $15.23. Elanco Animal Health Incorporated has a fifty-two week low of $8.52 and a fifty-two week high of $18.80. The stock has a market capitalization of $7.11 billion, a PE ratio of -5.46, a price-to-earnings-growth ratio of 1.50 and a beta of 1.40. The company has a quick ratio of 1.75, a current ratio of 2.93 and a debt-to-equity ratio of 0.92.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.06. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations 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 firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. As a group, research analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insiders Place Their Bets

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

About Elanco Animal Health

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.