Elanco Animal Health Incorporated (NYSE:ELAN) Stake Decreased by Black Creek Investment Management Inc.

Black Creek Investment Management Inc. lowered its stake in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 11.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,914,446 shares of the company's stock after selling 2,244,989 shares during the period. Elanco Animal Health comprises 9.6% of Black Creek Investment Management Inc.'s investment portfolio, making the stock its 3rd biggest position. Black Creek Investment Management Inc. owned approximately 3.63% of Elanco Animal Health worth $258,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in ELAN. WINTON GROUP Ltd acquired a new stake in shares of Elanco Animal Health in the 2nd quarter valued at $267,000. Envestnet Asset Management Inc. lifted its holdings in Elanco Animal Health by 125.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 119,655 shares of the company's stock worth $1,727,000 after buying an additional 66,503 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Elanco Animal Health by 51.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,291 shares of the company's stock worth $264,000 after acquiring an additional 6,191 shares in the last quarter. O Neil Global Advisors Inc. purchased a new position in shares of Elanco Animal Health in the 2nd quarter valued at about $163,000. Finally, HBK Sorce Advisory LLC increased its holdings in shares of Elanco Animal Health by 9.4% in the 2nd quarter. HBK Sorce Advisory LLC now owns 12,920 shares of the company's stock valued at $186,000 after acquiring an additional 1,107 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company's stock.

Insider Buying and Selling

In related news, Director Michael J. Harrington acquired 3,500 shares of Elanco Animal Health stock in a transaction on Thursday, August 22nd. The stock was purchased at an average cost of $14.85 per share, with a total value of $51,975.00. Following the purchase, the director now directly owns 81,094 shares in the company, valued at $1,204,245.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jeffrey N. Simmons bought 100,000 shares of Elanco Animal Health stock in a transaction dated 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 purchase, 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 legal filing with the SEC, which is available at the SEC website. Also, Director Michael J. Harrington purchased 3,500 shares of the company's stock in a transaction dated Thursday, August 22nd. The shares were purchased at an average price of $14.85 per share, for a total transaction of $51,975.00. Following the completion of the purchase, 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. Corporate insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

ELAN has been the subject of a number of research analyst reports. Piper Sandler lowered their price target 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. Barclays lowered 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 report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $17.57.

Elanco Animal Health Stock Performance

NYSE ELAN traded up $0.06 on Monday, reaching $14.53. The stock had a trading volume of 3,066,290 shares, compared to its average volume of 4,736,662. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93. The stock has a market cap of $7.18 billion, a P/E ratio of -5.48, a price-to-earnings-growth ratio of 1.44 and a beta of 1.40. The business's 50-day moving average price is $13.88 and its 200 day moving average price is $15.19. Elanco Animal Health Incorporated has a 12-month low of $8.52 and a 12-month 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. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. Elanco Animal Health's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

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.