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CIBC Asset Management Inc Lowers Position in Elanco Animal Health (NYSE:ELAN)

CIBC Asset Management Inc lessened its stake in shares of Elanco Animal Health (NYSE:ELAN) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,575 shares of the company’s stock after selling 505 shares during the period. CIBC Asset Management Inc’s holdings in Elanco Animal Health were worth $547,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. BB&T Securities LLC boosted its holdings in shares of Elanco Animal Health by 198.3% during the 3rd quarter. BB&T Securities LLC now owns 49,942 shares of the company’s stock valued at $1,325,000 after acquiring an additional 33,197 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Elanco Animal Health by 10.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 92,142 shares of the company’s stock worth $2,450,000 after buying an additional 8,798 shares during the period. BKD Wealth Advisors LLC lifted its holdings in Elanco Animal Health by 15.1% during the 3rd quarter. BKD Wealth Advisors LLC now owns 11,529 shares of the company’s stock worth $307,000 after buying an additional 1,516 shares during the period. Winthrop Partners WNY LLC acquired a new position in Elanco Animal Health during the 3rd quarter worth about $25,000. Finally, General American Investors Co. Inc. acquired a new position in Elanco Animal Health during the 3rd quarter worth about $5,575,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.Get Elanco Animal Health alerts: 

Several research analysts have recently weighed in on ELAN shares. UBS Group lowered their price objective on Elanco Animal Health from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Goldman Sachs Group assumed coverage on Elanco Animal Health in a research report on Monday, September 9th. They issued a “positive” rating for the company. They noted that the move was a valuation call. Zacks Investment Research lowered Elanco Animal Health from a “hold” rating to a “sell” rating in a research report on Tuesday, October 15th. Morgan Stanley raised Elanco Animal Health from an “equal” rating to a “weight” rating and decreased their target price for the company from $34.00 to $32.00 in a research report on Thursday, November 7th. Finally, ValuEngine raised Elanco Animal Health from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. One investment 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. The company has a consensus rating of “Hold” and a consensus price target of $33.19.

In other news, Director John P. Bilbrey purchased 3,766 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of $26.58 per share, with a total value of $100,100.28. Following the completion of the acquisition, the director now owns 2,783 shares in the company, valued at approximately $73,972.14. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey N. Simmons purchased 75,750 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $26.55 per share, for a total transaction of $2,011,162.50. Following 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. Insiders have acquired a total of 1,475,461 shares of company stock worth $3,864,853 in the last three months. Insiders own 0.04% of the company’s stock.

Elanco Animal Health stock traded down $0.16 during trading on Friday, hitting $27.71. The stock had a trading volume of 1,401,253 shares, compared to its average volume of 4,577,113. The stock’s 50 day moving average is $26.81 and its two-hundred day moving average is $29.75. 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 has a 1 year low of $25.25 and a 1 year high of $35.46. The stock has a market cap of $10.40 billion, a price-to-earnings ratio of 23.48 and a beta of 0.69.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $771.30 million for the quarter, compared to analysts’ expectations of $765.85 million. During the same quarter in the previous year, the firm posted $0.29 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Elanco Animal Health will post 1.07 EPS for the current fiscal year.