PRIMECAP Management Co. recently announced the acquisition of new stake in Elanco Animal Health Inc (NYSE:ELAN). The institutional investor has increased its shareholding in the Healthcare company by 2.97% to 50.63 million shares with purchase of 1.46 million shares. This fresh investment now brings its stake to 10.27% valued currently at $754.38 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.79 million to 48.26 million shares. And T. Rowe Price Associates, Inc. has lifted its position by 14.76% or 2.5 million shares – to 19.4 million shares.
Currently, there are 492.80M common shares owned by the public and among those 486.02M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 48 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 980,603 shares. Insider sales of the common stock occurred on 24 occasions, with total insider shares sold totaling 399,837 shares.
The top 3 mutual fund holders in Elanco Animal Health Inc are Dodge & Cox Stock Fund, Vanguard PRIMECAP Fund, and Vanguard Total Stock Market ETF. Dodge & Cox Stock Fund owns 55.4 million shares of the company’s stock, all valued at over $825.41 million. The company bought an additional 0.3 million shares recently to bring their total holdings to about 11.24% of the shares outstanding. Vanguard PRIMECAP Fund bought 100000.0 shares to see its total holdings expand to 17.53 million shares valued at over $261.18 million and representing 3.56% of the shares outstanding. Vanguard Total Stock Market ETF bought 14895.0 shares to bring its total holdings to over 15.52 million shares at a value of $231.18 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.15% of the shares outstanding.
However, the script later moved the day high at 14.82, up 1.24%. The company’s stock has a 5-day price change of -2.71% and 60.70% over the past three months. ELAN shares are trading -1.21% year to date (YTD), with the 12-month market performance up to 11.68% higher. It has a 12-month low price of $7.88 and touched a high of $15.94 over the same period. ELAN has an average intraday trading volume of 5.52 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.44%, 10.25%, and 33.06% respectively.
Institutional ownership of Elanco Animal Health Inc (NYSE: ELAN) shares accounts for 98.78% of the company’s 492.80M shares outstanding. Mutual fund holders own 55.20%, while other institutional holders and individual stakeholders account for 60.96% and 43.64% respectively.
It has a market capitalization of $7.25B and a beta (3y monthly) value of 1.29. The earnings-per-share (ttm) stands at -$2.32. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.72% over the week and 2.69% over the month.
Analysts forecast that Elanco Animal Health Inc (ELAN) will achieve an EPS of $0.11 for the current quarter, $0.3 for the next quarter and $0.89 for 2024. The lowest estimate earnings-per-share for the quarter is $0.08 while analysts give the company a high EPS estimate of $0.13. Comparatively, EPS for the current quarter was $0.19 a year ago. Earnings per share for the fiscal year are expected to decrease by -17.62%, and -2.71% over the next financial year. EPS should shrink at an annualized rate of -6.55% over the next five years, compared to 28.42% over the past 5-year period.
Looking at the support for the ELAN, a number of firms have released research notes about the stock. Stifel stated their Buy rating for the stock in a research note on January 05, 2024, with the firm’s price target at $13-$20.
