Elanco Animal Health (NYSE:ELAN) Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System lifted its holdings in Elanco Animal Health (NYSE:ELAN) by 2.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 612,343 shares of the company’s stock after acquiring an additional 14,053 shares during the quarter. California State Teachers Retirement System’s holdings in Elanco Animal Health were worth $16,282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kavi Asset Management LP acquired a new position in shares of Elanco Animal Health in the 2nd quarter worth approximately $3,948,000. First Republic Investment Management Inc. grew its stake in shares of Elanco Animal Health by 3.6% in the 2nd quarter. First Republic Investment Management Inc. now owns 62,611 shares of the company’s stock worth $2,116,000 after purchasing an additional 2,171 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Elanco Animal Health by 509.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,716,444 shares of the company’s stock worth $58,016,000 after purchasing an additional 1,434,910 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Elanco Animal Health by 11.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,530,402 shares of the company’s stock worth $85,528,000 after purchasing an additional 265,051 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Elanco Animal Health by 390.8% in the 2nd quarter. Mackenzie Financial Corp now owns 489,520 shares of the company’s stock worth $16,546,000 after purchasing an additional 389,785 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors.

Shares of ELAN opened at $27.62 on Tuesday. Elanco Animal Health has a one year low of $25.25 and a one year high of $35.46. The company has a 50-day moving average of $26.87 and a two-hundred day moving average of $29.67. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 23.41 and a beta of 0.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.12 and a quick ratio of 1.67.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. Elanco Animal Health had a net margin of 3.04% and a return on equity of 7.79%. The company had revenue of $771.30 million during the quarter, compared to analysts’ expectations of $765.85 million. During the same period last year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts anticipate that Elanco Animal Health will post 1.07 earnings per share for the current year.

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Several equities analysts have recently issued reports on the stock. Morgan Stanley raised shares of Elanco Animal Health from an “equal” rating to a “weight” rating and lowered their price objective for the stock from $34.00 to $32.00 in a research note on Thursday, November 7th. UBS Group decreased their target price on shares of Elanco Animal Health from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Zacks Investment Research cut shares of Elanco Animal Health from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th. Cleveland Research reiterated a “hold” rating on shares of Elanco Animal Health in a report on Thursday, September 26th. Finally, Bank of America cut shares of Elanco Animal Health from a “buy” rating to a “neutral” rating and set a $30.00 target price for the company. in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $33.19.

In related news, major shareholder Dawei Li purchased 1,384,717 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of $1.05 per share, for a total transaction of $1,453,952.85. Also, CEO Jeffrey N. Simmons purchased 75,750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $26.55 per share, with a total value of $2,011,162.50. Following the completion of the acquisition, the chief executive officer now owns 470,006 shares of the company’s stock, valued at approximately $12,478,659.30. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 1,475,461 shares of company stock valued at $3,864,853. Corporate insiders own 0.04% of the company’s stock.

Elanco Animal Health 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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