abrdn plc Raises Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Posted by Defense World Staff on May 25th, 2023

abrdn plc grew its position in Elanco Animal Health Incorporated (NYSE:ELAN – Get Rating) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,278 shares of the company’s stock after acquiring an additional 7,595 shares during the quarter. abrdn plc’s holdings in Elanco Animal Health were worth $1,250,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ELAN. Price T Rowe Associates Inc. MD lifted its position in shares of Elanco Animal Health by 22.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 27,030,888 shares of the company’s stock valued at $335,454,000 after acquiring an additional 4,872,640 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Elanco Animal Health in the first quarter valued at approximately $83,259,000. BlackRock Inc. increased its holdings in shares of Elanco Animal Health by 6.6% in the first quarter. BlackRock Inc. now owns 26,217,917 shares of the company’s stock valued at $684,027,000 after purchasing an additional 1,631,045 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Elanco Animal Health by 2,243.8% in the fourth quarter. First Trust Advisors LP now owns 1,611,978 shares of the company’s stock valued at $19,698,000 after purchasing an additional 1,543,202 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Elanco Animal Health by 14.6% in the first quarter. Goldman Sachs Group Inc. now owns 12,105,226 shares of the company’s stock valued at $315,825,000 after purchasing an additional 1,541,163 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently commented on ELAN shares. Piper Sandler cut their price target on Elanco Animal Health from $15.00 to $12.00 in a report on Thursday, March 2nd. Barclays raised Elanco Animal Health from an “equal weight” rating to an “overweight” rating and set a $14.00 price target for the company in a report on Thursday, April 20th. Finally, Morgan Stanley cut their target price on Elanco Animal Health from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, January 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $16.50.

Insider Activity

In other news, Director R David Hoover acquired 10,000 shares of the company’s stock in a transaction dated Friday, March 3rd. The stock was acquired at an average cost of $11.13 per share, with a total value of $111,300.00. Following the completion of the purchase, the director now owns 155,000 shares of the company’s stock, valued at approximately $1,725,150. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Jeffrey N. Simmons bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The stock was purchased at an average cost of $9.60 per share, for a total transaction of $144,000.00. Following the completion of the acquisition, the chief executive officer now owns 45,000 shares in the company, valued at approximately $432,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R David Hoover bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The stock was bought at an average price of $11.13 per share, with a total value of $111,300.00. Following the completion of the acquisition, the director now owns 155,000 shares of the company’s stock, valued at approximately $1,725,150. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

Elanco Animal Health Trading Down 2.6 %

Shares of NYSE ELAN opened at $8.40 on Thursday. Elanco Animal Health Incorporated has a twelve month low of $8.28 and a twelve month high of $24.93. The company has a current ratio of 2.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.75. The stock has a fifty day simple moving average of $9.16 and a 200-day simple moving average of $11.28. The stock has a market capitalization of $4.14 billion, a PE ratio of -209.95, a PEG ratio of 6.29 and a beta of 0.92.

Elanco Animal Health (NYSE:ELAN – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16. Elanco Animal Health had a positive return on equity of 8.21% and a negative net margin of 0.49%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. On average, equities analysts forecast that Elanco Animal Health Incorporated will post 0.8 earnings per share for the current year.

Elanco Animal Health Company Profile

(Get Rating)

Elanco Animal Health, Inc innovates, develops, manufactures, and markets products for pets and farm 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.