Elanco Animal Health Incorporated (NYSE:ELAN) is Black Creek Investment Management Inc.’s 3rd Largest Position

Black Creek Investment Management Inc. trimmed its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 11.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 17,914,446 shares of the company’s stock after selling 2,244,989 shares during the period. Elanco Animal Health comprises about 9.6% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 3rd biggest position. Black Creek Investment Management Inc.’s holdings in Elanco Animal Health were worth $258,505,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ELAN. Victory Capital Management Inc. lifted its stake in shares of Elanco Animal Health by 22.2% in the 4th quarter. Victory Capital Management Inc. now owns 65,512 shares of the company’s stock worth $976,000 after purchasing an additional 11,910 shares during the period. Janney Montgomery Scott LLC bought a new position in Elanco Animal Health in the fourth quarter worth approximately $913,000. ING Groep NV purchased a new position in shares of Elanco Animal Health during the 4th quarter worth $1,062,000. Norges Bank purchased a new position in shares of Elanco Animal Health during the 4th quarter worth $62,510,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Elanco Animal Health during the 4th quarter valued at $1,991,000. 97.48% of the stock is currently owned by institutional investors.

Elanco Animal Health Stock Up 0.6 %

Shares of ELAN opened at $14.47 on Monday. The business’s 50 day moving average is $13.87 and its 200 day moving average is $15.20. 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 12-month low of $8.52 and a 12-month high of $18.80. The company has a market capitalization of $7.15 billion, a PE ratio of -5.46, a price-to-earnings-growth ratio of 1.44 and a beta of 1.40.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share (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 firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Elanco Animal Health

In other news, Director Michael J. Harrington bought 3,500 shares of Elanco Animal Health stock in a transaction dated Thursday, August 22nd. The shares were purchased at an average cost of $14.85 per share, with a total value of $51,975.00. Following the completion of the acquisition, the director now owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Elanco Animal Health news, CEO Jeffrey N. Simmons acquired 100,000 shares of the company’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 purchase, the chief executive officer now directly owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael J. Harrington bought 3,500 shares of Elanco Animal Health stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average price of $14.85 per share, for a total transaction of $51,975.00. Following the completion of the acquisition, the director now owns 81,094 shares in the company, valued at $1,204,245.90. The disclosure for this purchase can be found here. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

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

About Elanco Animal Health

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.