State of New Jersey Common Pension Fund D Decreases Stake in Elanco Animal Health (NASDAQ:ELAN)

State of New Jersey Common Pension Fund D reduced its position in Elanco Animal Health (NASDAQ:ELAN) by 30.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,000 shares of the company’s stock after selling 103,277 shares during the period. State of New Jersey Common Pension Fund D owned 0.07% of Elanco Animal Health worth $8,112,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Primecap Management Co. CA lifted its position in shares of Elanco Animal Health by 516.8% in the first quarter. Primecap Management Co. CA now owns 30,607,906 shares of the company’s stock worth $981,596,000 after buying an additional 25,645,707 shares in the last quarter. BlackRock Inc. increased its stake in Elanco Animal Health by 618.1% during the first quarter. BlackRock Inc. now owns 19,559,113 shares of the company’s stock worth $627,262,000 after acquiring an additional 16,835,410 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in Elanco Animal Health by 88.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 10,878,124 shares of the company’s stock worth $348,861,000 after acquiring an additional 5,111,146 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Elanco Animal Health during the first quarter worth approximately $341,261,000. Finally, OppenheimerFunds Inc. bought a new stake in Elanco Animal Health during the first quarter worth approximately $310,058,000.

In other news, Director John P. Bilbrey acquired 7,750 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average price of $32.39 per share, with a total value of $251,022.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Several equities research analysts have weighed in on ELAN shares. BMO Capital Markets boosted their price objective on Elanco Animal Health from $32.00 to $35.00 and gave the stock a “market perform” rating in a research note on Friday, May 10th. Guggenheim started coverage on Elanco Animal Health in a research note on Wednesday, May 22nd. They set a “neutral” rating on the stock. Finally, Zacks Investment Research cut Elanco Animal Health from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $33.56.

Shares of ELAN traded up $0.16 during mid-day trading on Thursday, reaching $33.12. 1,095,310 shares of the company’s stock traded hands, compared to its average volume of 5,947,791. The firm’s 50-day moving average is $33.36. Elanco Animal Health has a 12 month low of $28.00 and a 12 month high of $37.61.

Elanco Animal Health (NASDAQ:ELAN) last released its earnings results on Thursday, May 9th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The business had revenue of $731.10 million for the quarter, compared to the consensus estimate of $743.40 million. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS.

Elanco Animal Health Profile

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

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