Elanco Animal Health Incorporated (NYSE:ELAN) Shares Bought by Sofinnova Investments Inc.

Sofinnova Investments Inc. lifted its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 12.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,864,250 shares of the company’s stock after acquiring an additional 308,703 shares during the quarter. Elanco Animal Health comprises about 2.2% of Sofinnova Investments Inc.’s investment portfolio, making the stock its 12th biggest holding. Sofinnova Investments Inc. owned 0.58% of Elanco Animal Health worth $41,331,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. ORG Partners LLC bought a new stake in Elanco Animal Health in the second quarter worth about $31,000. nVerses Capital LLC bought a new stake in shares of Elanco Animal Health in the 2nd quarter worth approximately $32,000. Jones Financial Companies Lllp acquired a new stake in Elanco Animal Health during the fourth quarter valued at approximately $37,000. Global Financial Private Client LLC bought a new stake in Elanco Animal Health during the first quarter worth approximately $72,000. Finally, Meeder Advisory Services Inc. bought a new position in shares of Elanco Animal Health in the second quarter valued at $154,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ELAN. Barclays decreased their target price on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Piper Sandler reduced their price objective on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Elanco Animal Health has an average rating of “Moderate Buy” and an average target price of $17.57.

Insider Transactions at Elanco Animal Health

In other 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, for a total transaction of $51,975.00. Following the completion of the purchase, the director now directly owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Elanco Animal Health news, Director Michael J. Harrington bought 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, for a total transaction of $51,975.00. Following the completion of the purchase, the director now directly owns 81,094 shares of the company’s stock, valued at $1,204,245.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey N. Simmons bought 100,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost 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 directly 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 currently owned by company insiders.

Elanco Animal Health Stock Up 0.4 %

Shares of Elanco Animal Health stock opened at $14.53 on Tuesday. 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 Incorporated has a 1 year low of $8.52 and a 1 year high of $18.80. The stock has a 50-day moving average price of $13.88 and a 200 day moving average price of $15.19. The company has a market cap of $7.18 billion, a P/E ratio of -5.48, a P/E/G ratio of 1.44 and a beta of 1.40.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.24 by $0.06. The business 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 firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company posted $0.18 earnings per share. As a group, analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

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.