Hardman Johnston Global Advisors LLC Trims Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Hardman Johnston Global Advisors LLC trimmed its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,278,270 shares of the company’s stock after selling 37,540 shares during the period. Hardman Johnston Global Advisors LLC’s holdings in Elanco Animal Health were worth $18,778,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. ASB Consultores LLC grew its position in Elanco Animal Health by 33.9% during the 3rd quarter. ASB Consultores LLC now owns 23,700 shares of the company’s stock valued at $348,000 after purchasing an additional 6,000 shares during the last quarter. Innealta Capital LLC grew its position in Elanco Animal Health by 78.1% during the 3rd quarter. Innealta Capital LLC now owns 19,981 shares of the company’s stock valued at $294,000 after purchasing an additional 8,760 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Elanco Animal Health by 101.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 874,895 shares of the company’s stock valued at $12,852,000 after purchasing an additional 439,757 shares during the last quarter. Private Management Group Inc. grew its position in Elanco Animal Health by 62.6% during the 3rd quarter. Private Management Group Inc. now owns 1,442,334 shares of the company’s stock valued at $21,188,000 after purchasing an additional 555,131 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Elanco Animal Health by 158.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company’s stock valued at $49,000 after purchasing an additional 2,044 shares during the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Elanco Animal Health from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price target on shares of Elanco Animal Health in a report on Thursday, September 19th. Finally, Morgan Stanley downgraded shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $17.00 to $15.00 in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.00.

Elanco Animal Health Stock Performance

ELAN opened at $12.67 on Wednesday. The company has a current ratio of 2.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.92. The company has a market cap of $6.26 billion, a price-to-earnings ratio of -4.97, a PEG ratio of 1.32 and a beta of 1.41. The company’s 50 day moving average is $14.02 and its 200 day moving average is $14.73. Elanco Animal Health Incorporated has a 12-month low of $9.26 and a 12-month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share (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 the consensus estimate of $1.15 billion. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 earnings per share. On average, equities research analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Insider Buying and Selling

In other news, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction on Thursday, August 22nd. The shares were acquired at an average price of $14.85 per share, with a total value of $51,975.00. Following the completion of the acquisition, the director now directly owns 81,094 shares of the company’s stock, valued at $1,204,245.90. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction on Thursday, August 22nd. The shares were acquired at an average price of $14.85 per share, with a total value of $51,975.00. Following the completion of the acquisition, the director now directly owns 81,094 shares of the company’s stock, valued at $1,204,245.90. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey N. Simmons purchased 100,000 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the acquisition, the chief executive officer now directly owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. This represents a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by insiders.

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.