Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Friedenthal Financial

Friedenthal Financial lowered its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 94.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,727 shares of the company’s stock after selling 47,684 shares during the period. Friedenthal Financial’s holdings in Elanco Animal Health were worth $39,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Phocas Financial Corp. purchased a new stake in shares of Elanco Animal Health during the fourth quarter worth approximately $3,857,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Elanco Animal Health in the 1st quarter valued at approximately $1,226,000. Vanguard Group Inc. raised its holdings in shares of Elanco Animal Health by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock valued at $737,083,000 after purchasing an additional 467,196 shares in the last quarter. Bank of Nova Scotia purchased a new stake in shares of Elanco Animal Health during the 4th quarter worth $4,004,000. Finally, Wolf Hill Capital Management LP acquired a new position in shares of Elanco Animal Health during the fourth quarter worth $20,683,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Insider Buying and Selling

In other Elanco Animal Health news, CEO Jeffrey N. Simmons acquired 100,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the purchase, the chief executive officer now owns 145,000 shares in the company, valued at approximately $1,886,450. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jeffrey N. Simmons bought 100,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average cost 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 approximately $1,886,450. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William F. Doyle bought 15,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was bought at an average cost of $16.98 per share, for a total transaction of $254,700.00. Following the acquisition, the director now owns 76,330 shares of the company’s stock, valued at approximately $1,296,083.40. The disclosure for this purchase can be found here. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on ELAN. Barclays lowered their price objective on 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 dropped 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 note on Monday, July 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.57.

Elanco Animal Health Stock Down 0.1 %

Shares of NYSE ELAN opened at $13.93 on Wednesday. The business has a 50-day moving average price of $14.84 and a 200 day moving average price of $15.36. The stock has a market cap of $6.88 billion, a PE ratio of -5.26, a price-to-earnings-growth ratio of 1.27 and a beta of 1.42. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.95. Elanco Animal Health Incorporated has a 52-week low of $8.52 and a 52-week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating 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 5.98% and a negative net margin of 29.83%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 earnings per share. Equities research analysts forecast that Elanco Animal Health Incorporated will post 0.93 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.