New World Advisors LLC Sells 3,500 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

New World Advisors LLC lessened its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 14.8% in the second quarter, HoldingsChannel reports. The fund owned 20,150 shares of the company’s stock after selling 3,500 shares during the period. New World Advisors LLC’s holdings in Elanco Animal Health were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in shares of Elanco Animal Health during the second quarter worth approximately $32,000. ORG Partners LLC bought a new stake in shares of Elanco Animal Health during the second quarter worth approximately $31,000. Jones Financial Companies Lllp bought a new stake in shares of Elanco Animal Health during the fourth quarter worth approximately $37,000. Global Financial Private Client LLC bought a new stake in shares of Elanco Animal Health during the first quarter worth approximately $72,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Elanco Animal Health during the first quarter worth approximately $167,000. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Price Performance

ELAN traded down $0.05 during trading on Wednesday, hitting $15.09. 560,593 shares of the stock traded hands, compared to its average volume of 4,792,257. Elanco Animal Health Incorporated has a twelve month low of $8.52 and a twelve month high of $18.80. The company has a market cap of $7.46 billion, a price-to-earnings ratio of -5.72, a PEG ratio of 1.54 and a beta of 1.42. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.93 and a quick ratio of 1.75. The business has a 50 day moving average price of $13.85 and a 200 day moving average price of $15.28.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data 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 business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business earned $0.18 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. Equities research analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Elanco Animal Health

In related news, CEO Jeffrey N. Simmons purchased 100,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought 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 of the company’s stock, valued at $1,886,450. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Jeffrey N. Simmons purchased 100,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought 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 of the company’s stock, valued at $1,886,450. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael J. Harrington acquired 3,500 shares of Elanco Animal Health stock in a transaction that occurred on Thursday, August 22nd. The stock was acquired at an average cost of $14.85 per share, for a total transaction of $51,975.00. Following 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. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Barclays reduced their price objective on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, June 28th. Piper Sandler cut their price target on 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 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 company. According to data from MarketBeat, Elanco Animal Health currently has an average rating of “Moderate Buy” and an average price target of $17.57.

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.