Pictet Asset Management Ltd. Sells 564,523 Shares of Elanco Animal Health (NYSE:ELAN)

Pictet Asset Management Ltd. trimmed its position in Elanco Animal Health (NYSE:ELAN) by 57.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 412,986 shares of the company’s stock after selling 564,523 shares during the period. Pictet Asset Management Ltd.’s holdings in Elanco Animal Health were worth $10,981,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Winthrop Partners WNY LLC bought a new stake in Elanco Animal Health during the 3rd quarter worth approximately $25,000. San Francisco Sentry Investment Group CA increased its holdings in Elanco Animal Health by 196.7% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,157 shares of the company’s stock worth $31,000 after purchasing an additional 767 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Elanco Animal Health during the 2nd quarter worth approximately $32,000. Toth Financial Advisory Corp bought a new stake in Elanco Animal Health during the 3rd quarter worth approximately $33,000. Finally, Capital Investment Advisory Services LLC increased its holdings in Elanco Animal Health by 1,501.4% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 1,121 shares of the company’s stock worth $36,000 after purchasing an additional 1,051 shares in the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the company. Morgan Stanley raised Elanco Animal Health from an “equal” rating to a “weight” rating and decreased their price objective for the stock from $34.00 to $32.00 in a report on Thursday, November 7th. Goldman Sachs Group assumed coverage on Elanco Animal Health in a report on Monday, September 9th. They set a “positive” rating for the company. They noted that the move was a valuation call. Barclays assumed coverage on Elanco Animal Health in a report on Monday, September 23rd. They set an “overweight” rating and a $36.00 price objective for the company. Cleveland Research reissued a “hold” rating on shares of Elanco Animal Health in a report on Thursday, September 26th. Finally, Bank of America lowered Elanco Animal Health from a “buy” rating to a “neutral” rating and set a $30.00 price objective 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 given a buy rating to the stock. Elanco Animal Health presently has a consensus rating of “Hold” and a consensus target price of $33.19.

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In other news, major shareholder Dawei Li acquired 1,384,717 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price of $1.05 per share, for a total transaction of $1,453,952.85. Also, CEO Jeffrey N. Simmons acquired 75,750 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $26.55 per share, for a total transaction of $2,011,162.50. Following the purchase, 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. Insiders bought a total of 1,475,461 shares of company stock worth $3,864,853 in the last 90 days. Company insiders own 0.04% of the company’s stock.

Shares of NYSE ELAN opened at $27.62 on Tuesday. Elanco Animal Health has a twelve month low of $25.25 and a twelve month high of $35.46. The stock’s 50 day moving average price is $26.87 and its 200-day moving average price is $29.67. The company has a market capitalization of $10.34 billion, a PE ratio of 23.41 and a beta of 0.71. The company has a quick ratio of 1.67, a current ratio of 3.12 and a debt-to-equity ratio of 0.43.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. Elanco Animal Health had a return on equity of 7.79% and a net margin of 3.04%. The firm had revenue of $771.30 million for the quarter, compared to the consensus estimate of $765.85 million. During the same quarter in the previous year, the business earned $0.29 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. As a group, research analysts expect that Elanco Animal Health will post 1.07 EPS for the current fiscal year.

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.

Further Reading: Operating Income

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

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