Sofinnova Investments Inc. Purchases 308,703 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Sofinnova Investments Inc. increased its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 12.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,864,250 shares of the company’s stock after acquiring an additional 308,703 shares during the quarter. Elanco Animal Health comprises about 2.2% of Sofinnova Investments Inc.’s investment portfolio, making the stock its 12th biggest position. Sofinnova Investments Inc.’s holdings in Elanco Animal Health were worth $41,331,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ELAN. ORG Partners LLC acquired a new stake in Elanco Animal Health in the 2nd quarter valued at approximately $31,000. nVerses Capital LLC bought a new stake in shares of Elanco Animal Health in the second quarter valued at approximately $32,000. Jones Financial Companies Lllp acquired a new stake in Elanco Animal Health in the 4th quarter worth $37,000. Global Financial Private Client LLC acquired a new position in shares of Elanco Animal Health during the first quarter valued at about $72,000. Finally, Meeder Advisory Services Inc. acquired a new stake in shares of Elanco Animal Health during the 2nd quarter worth approximately $154,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ELAN shares. Piper Sandler reduced their target price on Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. Barclays decreased their target price on shares of Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Elanco Animal Health has a consensus rating of “Moderate Buy” and an average price target of $17.57.

Insider Activity at Elanco Animal Health

In other Elanco Animal Health news, Director Michael J. Harrington acquired 3,500 shares of Elanco Animal Health stock in a transaction on Thursday, August 22nd. The shares were bought at an average price of $14.85 per share, with a total value of $51,975.00. Following the completion of the purchase, the director now owns 81,094 shares in the company, valued at $1,204,245.90. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Michael J. Harrington acquired 3,500 shares of the stock in a transaction on Thursday, August 22nd. The stock was purchased at an average price of $14.85 per share, for a total transaction of $51,975.00. Following the transaction, the director now owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey N. Simmons bought 100,000 shares of Elanco Animal Health stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the transaction, the chief executive officer now directly owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. The disclosure for this purchase can be found here. Insiders own 0.57% of the company’s stock.

Elanco Animal Health Stock Up 0.4 %

ELAN opened at $14.53 on Tuesday. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of -5.48, a PEG ratio of 1.44 and a beta of 1.40. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93. The firm’s 50-day simple moving average is $13.88 and its 200-day simple moving average is $15.19. Elanco Animal Health Incorporated has a twelve month low of $8.52 and a twelve month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.06. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm earned $0.18 earnings per share. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

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.