Skandinaviska Enskilda Banken AB publ increased its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 428.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 476,421 shares of the company’s stock after acquiring an additional 386,306 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Elanco Animal Health were worth $16,527,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Tompkins Financial Corp acquired a new stake in shares of Elanco Animal Health in the first quarter valued at $27,000. Captrust Financial Advisors acquired a new stake in shares of Elanco Animal Health in the first quarter valued at $28,000. Fifth Third Bancorp lifted its holdings in shares of Elanco Animal Health by 699.3% during the second quarter. Fifth Third Bancorp now owns 1,143 shares of the company’s stock valued at $40,000 after purchasing an additional 1,000 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Elanco Animal Health by 216.6% during the first quarter. Quadrant Capital Group LLC now owns 1,200 shares of the company’s stock valued at $35,000 after purchasing an additional 821 shares during the last quarter. Finally, Proequities Inc. lifted its holdings in shares of Elanco Animal Health by 37.8% during the first quarter. Proequities Inc. now owns 1,239 shares of the company’s stock valued at $36,000 after purchasing an additional 340 shares during the last quarter. Institutional investors and hedge funds own 99.58% of the company’s stock.
Shares of Elanco Animal Health stock opened at $32.92 on Wednesday. The stock has a 50-day moving average price of $33.79 and a 200 day moving average price of $33.05. The company has a market cap of $15.57 billion, a P/E ratio of -21.95, a P/E/G ratio of 0.66 and a beta of 0.83. The company has a current ratio of 1.72, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. Elanco Animal Health Incorporated has a 1 year low of $25.76 and a 1 year high of $37.49.
Several brokerages have recently commented on ELAN. Cleveland Research raised Elanco Animal Health from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 15th. Credit Suisse Group began coverage on Elanco Animal Health in a report on Thursday, August 5th. They set an “outperform” rating and a $38.00 target price for the company. Finally, Zacks Investment Research downgraded Elanco Animal Health from a “buy” rating to a “hold” rating in a report on Friday, June 18th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Elanco Animal Health has a consensus rating of “Buy” and a consensus target price of $37.75.
In other news, major shareholder Elanco Animal Health Inc bought 45,508,938 shares of the company’s stock in a transaction on Friday, August 27th. The shares were bought at an average cost of $9.25 per share, with a total value of $420,957,676.50. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey N. Simmons acquired 16,850 shares of the stock in a transaction dated Wednesday, August 11th. The shares were bought at an average cost of $29.70 per share, for a total transaction of $500,445.00. Following the acquisition, the chief executive officer now owns 568,577 shares in the company, valued at approximately $16,886,736.90. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 45,528,788 shares of company stock worth $421,545,062. Insiders own 6.11% of the company’s stock.
Elanco Animal Health Profile
Elanco Animal Health, Inc engages in the innovation, development, manufacture and market products for companion and food 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.
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