Sofinnova Investments Inc. Buys New Shares in Phibro Animal Health Co. (NASDAQ:PAHC)

Sofinnova Investments Inc. purchased a new position in Phibro Animal Health Co. (NASDAQ:PAHC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 237,009 shares of the company’s stock, valued at approximately $3,975,000.

Other institutional investors also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. grew its holdings in shares of Phibro Animal Health by 56.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 79,667 shares of the company’s stock worth $1,030,000 after acquiring an additional 28,584 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in Phibro Animal Health by 7.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 11,430 shares of the company’s stock worth $148,000 after purchasing an additional 765 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Phibro Animal Health by 32.8% during the 1st quarter. Acadian Asset Management LLC now owns 675,207 shares of the company’s stock worth $8,726,000 after buying an additional 166,776 shares during the period. BNP Paribas Financial Markets lifted its stake in Phibro Animal Health by 290.2% during the fourth quarter. BNP Paribas Financial Markets now owns 73,287 shares of the company’s stock valued at $849,000 after buying an additional 54,506 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Phibro Animal Health by 7.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,393 shares of the company’s stock worth $200,000 after buying an additional 1,063 shares during the period. Institutional investors own 99.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of Phibro Animal Health in a report on Tuesday, September 10th. They set a “neutral” rating and a $22.00 price target on the stock. Bank of America boosted their target price on shares of Phibro Animal Health from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Friday, August 30th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.00.

Insider Buying and Selling

In other news, Director E Thomas Corcoran bought 5,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $20.02 per share, for a total transaction of $100,100.00. Following the completion of the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $500,500. The purchase was disclosed in a filing with the SEC, which is available through this link. 50.06% of the stock is owned by corporate insiders.

Phibro Animal Health Stock Down 2.1 %

Phibro Animal Health stock opened at $21.53 on Tuesday. Phibro Animal Health Co. has a twelve month low of $9.40 and a twelve month high of $22.31. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.64 and a current ratio of 2.94. The firm has a market cap of $872.03 million, a PE ratio of 67.28, a P/E/G ratio of 1.70 and a beta of 0.52. The firm’s 50 day moving average price is $18.99 and its two-hundred day moving average price is $16.68.

Phibro Animal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, September 4th. This represents a $0.48 annualized dividend and a dividend yield of 2.23%. Phibro Animal Health’s dividend payout ratio is 150.00%.

About Phibro Animal Health

Phibro Animal Health Corporation operates as an animal health and mineral nutrition company in the United States, Israel, Brazil, Ireland, and internationally. It operates through three segments: Animal Health, Mineral Nutrition, and Performance Products. The company develops, manufactures, and markets various products for food and companion animals including poultry, swine, beef and dairy cattle, aquaculture, and dogs.