Asahi Life Asset Management CO. LTD. Makes New Investment in Elanco Animal Health Incorporated (NYSE:ELAN)

Asahi Life Asset Management CO. LTD. purchased a new position in Elanco Animal Health Incorporated (NYSE:ELAN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,960 shares of the company’s stock, valued at approximately $207,000.

Other institutional investors also recently bought and sold shares of the company. Starboard Value LP purchased a new position in Elanco Animal Health during the first quarter valued at $230,613,000. Morgan Stanley boosted its stake in Elanco Animal Health by 265.3% in the 1st quarter. Morgan Stanley now owns 4,300,422 shares of the company’s stock worth $126,647,000 after purchasing an additional 3,123,293 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Elanco Animal Health by 6,838.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,786,570 shares of the company’s stock valued at $82,064,000 after purchasing an additional 2,746,409 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Elanco Animal Health in the second quarter worth about $85,072,000. Finally, Dendur Capital LP lifted its stake in shares of Elanco Animal Health by 248.5% in the first quarter. Dendur Capital LP now owns 3,152,829 shares of the company’s stock worth $92,851,000 after buying an additional 2,248,015 shares in the last quarter. Institutional investors own 99.58% of the company’s stock.

Elanco Animal Health stock opened at $32.92 on Wednesday. Elanco Animal Health Incorporated has a 52-week low of $25.76 and a 52-week high of $37.49. The company has a market cap of $15.57 billion, a P/E ratio of -21.95, a P/E/G ratio of 0.66 and a beta of 0.83. The company has a quick ratio of 1.00, a current ratio of 1.72 and a debt-to-equity ratio of 0.69. The business has a 50-day simple moving average of $33.79 and a two-hundred day simple moving average of $33.05.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data on Sunday, August 8th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.24 billion. Elanco Animal Health had a negative net margin of 16.02% and a positive return on equity of 5.24%. The firm’s revenue was up 118.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) earnings per share. Research analysts anticipate that Elanco Animal Health Incorporated will post 1.01 EPS for the current fiscal year.

In other news, major shareholder Elanco Animal Health Inc purchased 45,508,938 shares of the stock in a transaction on Friday, August 27th. The shares were acquired at an average price of $9.25 per share, with a total value of $420,957,676.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael J. Harrington purchased 3,000 shares of the stock in a transaction on Wednesday, August 11th. The shares were purchased at an average cost of $28.98 per share, for a total transaction of $86,940.00. Following the acquisition, the director now directly owns 25,684 shares of the company’s stock, valued at $744,322.32. The disclosure for this purchase can be found here. In the last three months, insiders purchased 45,528,788 shares of company stock worth $421,545,062. 6.11% of the stock is currently owned by insiders.

Several equities analysts recently issued reports on ELAN shares. Credit Suisse Group began coverage on Elanco Animal Health in a research report on Thursday, August 5th. They issued an “outperform” rating and a $38.00 price objective on the stock. Zacks Investment Research cut Elanco Animal Health from a “buy” rating to a “hold” rating in a research report on Friday, June 18th. Finally, Cleveland Research raised Elanco Animal Health from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 15th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $37.75.

Elanco Animal Health Profile

Elanco Animal Health, Inc engages in the innovation, development, manufacture and market products for companion and food animals. It offers products through the following four categories: Companion Animal Disease Prevention, Companion Animal Therapeutics, Food Animal Future Protein & Health, and Food Animal Ruminants & Swine.

Recommended Story: Technical Analysis of Stocks and What It Means

Want to see what other hedge funds are holding ELAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elanco Animal Health Incorporated (NYSE:ELAN).

Institutional Ownership by Quarter for Elanco Animal Health (NYSE:ELAN)

Receive News & Ratings for Elanco Animal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elanco Animal Health and related companies with MarketBeat.com's FREE daily email newsletter.