Sofinnova Investments Inc. Has $41.33 Million Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Sofinnova Investments Inc. increased its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 12.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,864,250 shares of the company's stock after buying an additional 308,703 shares during the quarter. Elanco Animal Health accounts for about 2.2% of Sofinnova Investments Inc.'s investment portfolio, making the stock its 12th largest position. Sofinnova Investments Inc. owned 0.58% of Elanco Animal Health worth $41,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Hunter Associates Investment Management LLC increased its holdings in shares of Elanco Animal Health by 5.1% during the first quarter. Hunter Associates Investment Management LLC now owns 16,600 shares of the company's stock worth $269,000 after buying an additional 800 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in Elanco Animal Health by 3.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 25,716 shares of the company's stock valued at $352,000 after purchasing an additional 893 shares in the last quarter. HBK Sorce Advisory LLC raised its position in 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 purchasing an additional 1,107 shares during the last quarter. Atomi Financial Group Inc. boosted its stake in Elanco Animal Health by 11.1% in the second quarter. Atomi Financial Group Inc. now owns 12,260 shares of the company's stock worth $177,000 after purchasing an additional 1,221 shares in the last quarter. Finally, Commerce Bank increased its stake in shares of Elanco Animal Health by 3.8% in the fourth quarter. Commerce Bank now owns 33,665 shares of the company's stock valued at $502,000 after buying an additional 1,223 shares in the last quarter. Institutional investors and hedge funds own 97.48% of the company's stock.

Elanco Animal Health Trading Down 1.6 %

Shares of ELAN traded down $0.23 on Tuesday, reaching $14.30. 5,213,592 shares of the company's stock were exchanged, compared to its average volume of 4,739,325. The business has a 50 day moving average price of $13.88 and a two-hundred day moving average price of $15.19. Elanco Animal Health Incorporated has a 12 month low of $8.52 and a 12 month high of $18.80. The stock has a market capitalization of $7.07 billion, a P/E ratio of -5.41, a price-to-earnings-growth ratio of 1.44 and a beta of 1.40. The company has a current ratio of 2.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.92.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its 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. The company had revenue of $1.18 billion during 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 business's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. Research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Activity

In other news, CEO Jeffrey N. Simmons acquired 100,000 shares of Elanco Animal Health stock in a transaction that occurred on 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 purchase, the chief executive officer now directly owns 145,000 shares of the company's stock, valued at $1,886,450. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Elanco Animal Health news, CEO Jeffrey N. Simmons bought 100,000 shares of Elanco Animal Health stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the acquisition, the chief executive officer now owns 145,000 shares in the company, valued at approximately $1,886,450. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction on Thursday, August 22nd. The stock was acquired at an average price 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 of the company's stock, valued at $1,204,245.90. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ELAN. Piper Sandler reduced 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 research report on Monday, July 1st. Barclays reduced their target price 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 analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Elanco Animal Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.57.

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.