Canada Pension Plan Investment Board Increases Position in Elanco Animal Health (NYSE:ELAN)

Christel Deskins

Canada Pension Plan Investment Board increased its stake in shares of Elanco Animal Health (NYSE:ELAN) by 3,068.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 856,369 shares of the company’s stock after buying an additional 829,343 shares during the quarter. Canada Pension Plan Investment Board’s holdings in […]

Canada Pension Plan Investment Board increased its stake in shares of Elanco Animal Health (NYSE:ELAN) by 3,068.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 856,369 shares of the company’s stock after buying an additional 829,343 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Elanco Animal Health were worth $18,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ELAN. Public Employees Retirement Association of Colorado grew its holdings in shares of Elanco Animal Health by 41.6% during the first quarter. Public Employees Retirement Association of Colorado now owns 57,160 shares of the company’s stock valued at $1,280,000 after buying an additional 16,807 shares during the last quarter. Comerica Bank grew its holdings in shares of Elanco Animal Health by 19.9% during the first quarter. Comerica Bank now owns 21,008 shares of the company’s stock valued at $501,000 after buying an additional 3,484 shares during the last quarter. American International Group Inc. grew its holdings in shares of Elanco Animal Health by 10.2% during the first quarter. American International Group Inc. now owns 6,457 shares of the company’s stock valued at $145,000 after buying an additional 596 shares during the last quarter. Aperio Group LLC boosted its holdings in Elanco Animal Health by 137.2% in the first quarter. Aperio Group LLC now owns 113,300 shares of the company’s stock valued at $2,537,000 after purchasing an additional 65,538 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in Elanco Animal Health by 14.7% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 34,410 shares of the company’s stock valued at $770,000 after purchasing an additional 4,398 shares during the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

ELAN stock opened at $27.08 on Friday. The firm has a market cap of $10.80 billion, a P/E ratio of -108.32, a PEG ratio of 4.97 and a beta of 1.05. Elanco Animal Health has a 52-week low of $15.17 and a 52-week high of $32.66. The company’s 50-day simple moving average is $25.95 and its 200-day simple moving average is $23.40. The company has a quick ratio of 2.54, a current ratio of 3.82 and a debt-to-equity ratio of 0.31.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. The firm had revenue of $586.30 million for the quarter, compared to the consensus estimate of $555.84 million. Elanco Animal Health had a negative net margin of 3.63% and a positive return on equity of 4.68%. On average, analysts anticipate that Elanco Animal Health will post 0.59 earnings per share for the current fiscal year.

Several equities research analysts have commented on ELAN shares. Zacks Investment Research raised shares of Elanco Animal Health from a “sell” rating to a “hold” rating in a report on Wednesday, July 8th. Argus upped their price target on shares of Elanco Animal Health from $26.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, August 18th. Cleveland Research lowered shares of Elanco Animal Health from a “neutral” rating to an “underperform” rating and set a $19.00 price target on the stock. in a report on Monday, July 27th. Morgan Stanley raised shares of Elanco Animal Health from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $24.00 to $31.00 in a report on Thursday, August 20th. They noted that the move was a valuation call. Finally, Bank of America upped their price target on shares of Elanco Animal Health from $26.00 to $28.00 and gave the company a “buy” rating in a report on Monday, July 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.83.

In other Elanco Animal Health news, Director John P. Bilbrey bought 9,580 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was bought at an average price of $26.20 per share, for a total transaction of $250,996.00. Following the completion of the transaction, the director now owns 8,016 shares in the company, valued at approximately $210,019.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R David Hoover bought 10,000 shares of the business’s stock in a transaction on Friday, August 21st. The shares were acquired at an average price of $26.94 per share, with a total value of $269,400.00. Following the transaction, the insider now owns 31,075 shares of the company’s stock, valued at approximately $837,160.50. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 38,580 shares of company stock worth $1,021,586. 0.12% of the stock is owned by insiders.

Elanco Animal Health Company Profile

Elanco Animal Health Incorporated, an animal health company, develops, manufactures, and markets products for companion and food animals. The company offers companion animal disease prevention products, such as parasiticide products that protect pets from worms, fleas, and ticks; companion animal therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications; vaccines, nutritional enzymes, and animal-only antibiotics; and a range of food animal products used in ruminant and swine production.

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Institutional Ownership by Quarter for Elanco Animal Health (NYSE:ELAN)

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