Choreo LLC Purchases Shares of 43,942 Elanco Animal Health Incorporated (NYSE:ELAN)

Choreo LLC bought a new position in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 43,942 shares of the company's stock, valued at approximately $620,000.

Other institutional investors have also made changes to their positions in the company. Private Management Group Inc. grew its holdings in shares of Elanco Animal Health by 25.7% during the second quarter. Private Management Group Inc. now owns 887,203 shares of the company's stock valued at $12,802,000 after buying an additional 181,306 shares in the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Elanco Animal Health in the 2nd quarter valued at about $16,043,000. Los Angeles Capital Management LLC purchased a new stake in shares of Elanco Animal Health in the second quarter worth approximately $170,000. Arizona State Retirement System boosted its holdings in shares of Elanco Animal Health by 2.1% during the second quarter. Arizona State Retirement System now owns 138,324 shares of the company's stock worth $1,996,000 after purchasing an additional 2,892 shares during the period. Finally, VELA Investment Management LLC purchased a new position in Elanco Animal Health during the second quarter valued at approximately $197,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Elanco Animal Health Stock Up 0.6 %

Shares of ELAN stock traded up $0.08 on Friday, hitting $14.47. The company's stock had a trading volume of 3,020,891 shares, compared to its average volume of 4,746,100. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of -5.46, a P/E/G ratio of 1.44 and a beta of 1.40. Elanco Animal Health Incorporated has a fifty-two week low of $8.52 and a fifty-two week high of $18.80. The firm's fifty day moving average price is $13.87 and its 200-day moving average price is $15.20. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.93 and a quick ratio of 1.75.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations 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 business's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share. Research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Insider Transactions at Elanco Animal Health

In other news, Director Michael J. Harrington bought 3,500 shares of the business'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 transaction, the director now directly owns 81,094 shares in the company, valued at $1,204,245.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Elanco Animal Health news, Director Michael J. Harrington bought 3,500 shares of the stock in a transaction on Thursday, August 22nd. The shares were purchased at an average price of $14.85 per share, with a total value of $51,975.00. Following the acquisition, the director now directly owns 81,094 shares of the company's stock, valued at approximately $1,204,245.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey N. Simmons purchased 100,000 shares of the business's stock in a transaction dated 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 owns 145,000 shares of the company's stock, valued at $1,886,450. The disclosure for this purchase can be found here. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays cut 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 cut their price objective on Elanco Animal Health from $19.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Elanco Animal Health currently has an average rating of "Moderate Buy" and an average price target of $17.57.

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.