ASR Vermogensbeheer N.V. Invests $23.74 Million in Elanco Animal Health Incorporated (NYSE:ELAN)

Key Points

• ASR Vermogensbeheer N.V. has invested approximately $23.74 million in Elanco Animal Health, acquiring over 2.26 million shares, which represents 0.46% of the company.
• Elanco Animal Health reported $1.19 billion in revenue for the latest quarter, beating analyst estimates, and achieved an earnings per share of $0.37, surpassing expectations of $0.31.
• Institutional investors own 97.48% of Elanco Animal Health’s stock, indicating strong investor confidence in the company.

ASR Vermogensbeheer N.V. purchased a new position in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,261,311 shares of the company's stock, valued at approximately $23,744,000. ASR Vermogensbeheer N.V. owned 0.46% of Elanco Animal Health at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ELAN. American Century Companies Inc. boosted its holdings in shares of Elanco Animal Health by 1.8% in the fourth quarter. American Century Companies Inc. now owns 128,264 shares of the company's stock worth $1,553,000 after acquiring an additional 2,280 shares during the period. LPL Financial LLC boosted its holdings in shares of Elanco Animal Health by 15.9% in the fourth quarter. LPL Financial LLC now owns 161,183 shares of the company's stock worth $1,952,000 after acquiring an additional 22,163 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of Elanco Animal Health by 14.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 33,396 shares of the company's stock worth $404,000 after acquiring an additional 4,169 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Elanco Animal Health by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 8,180,840 shares of the company's stock worth $99,102,000 after acquiring an additional 312,165 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Elanco Animal Health in the fourth quarter worth $134,000. 97.48% of the stock is owned by institutional investors.

Elanco Animal Health Trading Up 1.2%

NYSE ELAN opened at $14.24 on Wednesday. The stock's 50-day simple moving average is $14.19 and its two-hundred day simple moving average is $12.01. Elanco Animal Health Incorporated has a twelve month low of $8.02 and a twelve month high of $15.78. The company has a quick ratio of 1.46, a current ratio of 2.71 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 2.74 and a beta of 1.66.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.06. Elanco Animal Health had a return on equity of 7.54% and a net margin of 8.43%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the business posted $0.34 earnings per share. The company's revenue for the quarter was down 1.0% on a year-over-year basis. Research analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on ELAN. William Blair raised Elanco Animal Health from a "market perform" rating to an "outperform" rating in a research note on Thursday, June 26th. UBS Group lifted their price objective on Elanco Animal Health from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Leerink Partnrs raised Elanco Animal Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 17th. Wall Street Zen raised Elanco Animal Health from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Stifel Nicolaus lifted their price objective on Elanco Animal Health from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $16.17.

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.

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