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.
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.
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