Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Jacobi Capital Management LLC

Posted by AM Reporter Staff on Aug 6th, 2022

Jacobi Capital Management LLC trimmed its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN – Get Rating) by 32.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,591 shares of the company’s stock after selling 7,079 shares during the period. Jacobi Capital Management LLC’s holdings in Elanco Animal Health were worth $381,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CKW Financial Group acquired a new stake in shares of Elanco Animal Health during the 4th quarter worth $30,000. IndexIQ Advisors LLC acquired a new stake in shares of Elanco Animal Health during the 1st quarter worth $32,000. Benjamin Edwards Inc. increased its holdings in shares of Elanco Animal Health by 157.1% during the 4th quarter. Benjamin Edwards Inc. now owns 1,427 shares of the company’s stock worth $40,000 after buying an additional 872 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Elanco Animal Health in the 4th quarter valued at $46,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in Elanco Animal Health by 165.9% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,981 shares of the company’s stock valued at $52,000 after purchasing an additional 1,236 shares in the last quarter.

Elanco Animal Health Stock Up 2.2 %

Shares of Elanco Animal Health stock opened at $19.44 on Friday. The business has a 50-day moving average of $20.98 and a 200-day moving average of $24.04. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.41 and a current ratio of 2.44. Elanco Animal Health Incorporated has a 1-year low of $18.64 and a 1-year high of $35.69.

Elanco Animal Health (NYSE:ELAN – Get Rating) last announced its earnings results on Monday, May 9th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.22 billion. Elanco Animal Health had a positive return on equity of 6.61% and a negative net margin of 7.65%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. On average, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 1.15 EPS for the current year.

Insider Activity

In related news, Director John P. Bilbrey purchased 10,000 shares of Elanco Animal Health stock in a transaction dated Wednesday, May 11th. The shares were acquired at an average price of $22.03 per share, with a total value of $220,300.00. Following the completion of the transaction, the director now owns 34,222 shares of the company’s stock, valued at approximately $753,910.66. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

ELAN has been the subject of several recent research reports. Stifel Nicolaus lowered their price target on Elanco Animal Health from $30.00 to $22.00 and set a “hold” rating for the company in a report on Friday, June 24th. Morgan Stanley lowered their price target on Elanco Animal Health to $37.00 and set an “overweight” rating for the company in a report on Tuesday, May 17th. The Goldman Sachs Group downgraded Elanco Animal Health from a “buy” rating to a “sell” rating and lowered their price target for the company from $32.00 to $19.00 in a report on Thursday, July 21st. Finally, Piper Sandler initiated coverage on Elanco Animal Health in a report on Monday, July 11th. They issued a “neutral” rating and a $22.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Elanco Animal Health has an average rating of “Hold” and a consensus price target of $26.40.

Elanco Animal Health Company Profile

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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.