Hsbc Holdings PLC Makes New $1.54 Million Investment in Elanco Animal Health Incorporated $ELAN

Key Points

• HSBC Holdings PLC initiated a $1.54 million position in Elanco Animal Health during the second quarter, purchasing 62,590 shares. Institutional investors collectively own 97.48% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $29.09, compared with the stock’s opening price of $24.01.
• Elanco exceeded quarterly expectations, reporting $0.34 in adjusted EPS versus the $0.27 consensus and $1.37 billion in revenue, up 10.2% year over year. Company insiders also purchased more than 63,000 shares worth approximately $1.47 million over the last quarter.

Hsbc Holdings PLC bought a new position in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 62,590 shares of the company's stock, valued at approximately $1,540,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC grew its stake in Elanco Animal Health by 133.7% in the fourth quarter. NewEdge Advisors LLC now owns 1,096 shares of the company's stock worth $25,000 after purchasing an additional 627 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Elanco Animal Health in the second quarter worth $38,000. Root Financial Partners LLC lifted its position in Elanco Animal Health by 50.7% during the fourth quarter. Root Financial Partners LLC now owns 1,759 shares of the company's stock valued at $40,000 after buying an additional 592 shares during the period. Uniplan Investment Counsel Inc. purchased a new position in Elanco Animal Health during the fourth quarter valued at $41,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Elanco Animal Health by 33.2% during the 1st quarter. Bessemer Group Inc. now owns 2,105 shares of the company's stock valued at $50,000 after buying an additional 525 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ELAN. Morgan Stanley upped their target price on shares of Elanco Animal Health from $23.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their price target on shares of Elanco Animal Health from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Weiss Ratings lowered shares of Elanco Animal Health from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, August 20th. Wall Street Zen cut shares of Elanco Animal Health from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 24th. Finally, Citigroup upped their price objective on shares of Elanco Animal Health from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $29.09.

Elanco Animal Health Stock Down 0.4%

Shares of NYSE:ELAN opened at $24.01 on Tuesday. The company has a current ratio of 2.05, a quick ratio of 1.10 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $24.62 and a two-hundred day simple moving average of $23.99. Elanco Animal Health Incorporated has a 12-month low of $17.11 and a 12-month high of $27.98. The stock has a market capitalization of $12.00 billion, a price-to-earnings ratio of -58.56, a PEG ratio of 1.44 and a beta of 1.67.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.07. Elanco Animal Health had a positive return on equity of 8.13% and a negative net margin of 3.96%.The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.31 billion. During the same period in the prior year, the firm posted $0.26 earnings per share. The company's quarterly revenue was up 10.2% on a year-over-year basis. Elanco Animal Health has set its Q3 2026 guidance at 0.190-0.220 EPS and its FY 2026 guidance at 1.100-1.160 EPS. On average, research analysts anticipate that Elanco Animal Health Incorporated will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael J. Harrington acquired 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average cost of $21.82 per share, with a total value of $109,100.00. Following the transaction, the director owned 131,451 shares of the company's stock, valued at $2,868,260.82. This trade represents a 3.95% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert M. Vanhimbergen acquired 4,200 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average cost of $23.08 per share, for a total transaction of $96,936.00. Following the completion of the transaction, the chief financial officer directly owned 137,516 shares in the company, valued at $3,173,869.28. The trade was a 3.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 63,198 shares of company stock worth $1,473,109 over the last quarter. 1.14% of the stock is owned by insiders.

About Elanco Animal Health

Elanco Animal Health Inc is a global leader in animal health dedicated to improving food and companion animal well-being. The company develops, manufactures and markets a range of products, including parasiticides, vaccines, antibiotics and feed additives designed to prevent and treat disease in livestock and pets. Elanco's portfolio spans both food-producing animals—such as cattle, swine, poultry and aquaculture—and companion animals, with offerings that support parasite control, pain management and infectious disease prevention.

Originally founded as the animal health division of Eli Lilly and Company in the mid-20th century, Elanco was spun off into an independent publicly traded company in 2018.

Want to see what other hedge funds are holding ELAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elanco Animal Health Incorporated (NYSE:ELAN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source