Raymond James & Associates Increases Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

VaselineAugust 23, 2024

0 4 minutes read

Raymond James & Associates boosted its holdings in Elanco Animal Health Incorporated (NYSE:ELAN – Free Report) by 2.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,240,909 shares of the company’s stock after purchasing an additional 28,436 shares during the period. Raymond James & Associates owned about 0.25% of Elanco Animal Health worth $17,906,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have recently modified their holdings of the company. Hedeker Wealth LLC boosted its stake in Elanco Animal Health by 19.8% in the 2nd quarter. Hedeker Wealth LLC now owns 99,010 shares of the company’s stock worth $1,429,000 after acquiring an additional 16,358 shares in the the last quarter. 180 Wealth Advisors LLC raised its position in shares of Elanco Animal Health by 3.6% in the second quarter. 180 Wealth Advisors LLC now owns 25,716 shares of the company’s stock worth $352,000 after buying an additional 893 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Elanco Animal Health in the 2nd quarter valued at $31,000. SG Americas Securities LLC purchased a new stake in shares of Elanco Animal Health in the second quarter valued at $401,000. Finally, Clarus Wealth Advisors acquired a new stake in shares of Elanco Animal Health in the second quarter valued at $449,000. 97.48% of shares are currently owned by institutional investors.

Analysts on Wall Street are forecasting an increase

ELAN has been the subject of several recent analyst reports. Piper Sandler reduced their price objective on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Barclays decreased their target price on shares of 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 analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Moderate Buy” and a consensus price target of $17.57, based on data from MarketBeat.

Want more great investment ideas?

Read the latest stock analysis on ELAN

Insider buying and selling

In other Elanco Animal Health news, CEO Jeffrey N. Simmons purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. 0.57% of shares are owned by insiders.

Elanco Animal Health Stock Performance

Shares of Elanco Animal Health stock opened at $14.62 on Friday. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of -5.52, a price-to-earnings-growth ratio of 1.27 and a beta of 1.42. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.29, and a quick ratio of 1.96. The firm has a 50-day simple moving average of $14.40 and a 200-day simple moving average of $15.34. Elanco Animal Health Incorporated has a 1 year low of $8.52 and a 1 year high of $18.80.

Elanco Animal Health (NYSE:ELAN – Get Your Free Report ) last issued its earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Elanco Animal Health had a negative net margin of 29.83% and a positive return on equity of 5.98%. Elanco Animal Health’s revenue for the quarter was up 12.0% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $0.18 per share. On average, analysts expect that Elanco Animal Health Incorporated will post 0.93 EPS for the current year.

About Elanco Animal Health

(Free report)

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures and markets products for pets and farm animals. Offers disease prevention products for pet health, such as parasiticides and vaccine products that protect pets from worms, fleas and ticks under the Seresto, Advantage, Advantix and Advocate brands; pet health medications for pain, osteoarthritis, ear infections, cardiovascular and dermatological 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 health nutritional 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 brands Rumensin and Baytril.