Elanco Animal Health Incorporated $ELAN Shares Acquired by Old West Investment Management LLC

Old West Investment Management LLC raised its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 6.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 452,230 shares of the company’s stock after acquiring an additional 26,888 shares during the quarter. Elanco Animal Health makes up about 2.1% of Old West Investment Management LLC’s holdings, making the stock its 17th largest holding. Old West Investment Management LLC’s holdings in Elanco Animal Health were worth $9,108,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ELAN. Hsbc Holdings PLC boosted its stake in Elanco Animal Health by 434.2% during the second quarter. Hsbc Holdings PLC now owns 126,334 shares of the company’s stock worth $1,801,000 after buying an additional 102,686 shares during the period. Norges Bank acquired a new position in shares of Elanco Animal Health in the 2nd quarter worth approximately $12,502,000. Amalgamated Bank boosted its position in shares of Elanco Animal Health by 793.7% during the 3rd quarter. Amalgamated Bank now owns 226,580 shares of the company’s stock worth $4,563,000 after purchasing an additional 201,226 shares during the period. Independent Advisor Alliance increased its holdings in Elanco Animal Health by 364.5% in the 3rd quarter. Independent Advisor Alliance now owns 98,025 shares of the company’s stock valued at $1,974,000 after purchasing an additional 76,920 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Elanco Animal Health in the third quarter valued at approximately $1,444,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Insiders Place Their Bets

In other Elanco Animal Health news, CEO Jeffrey N. Simmons acquired 22,000 shares of the stock in a transaction dated Thursday, December 11th. The stock was acquired at an average cost of $21.75 per share, with a total value of $478,500.00. Following the transaction, the chief executive officer owned 167,000 shares in the company, valued at $3,632,250. The trade was a 15.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert M. Vanhimbergen acquired 6,950 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was acquired at an average price of $21.64 per share, for a total transaction of $150,398.00. Following the acquisition, the chief financial officer owned 124,233 shares in the company, valued at approximately $2,688,402.12. The trade was a 5.93% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 43,450 shares of company stock valued at $937,883 over the last quarter. Corporate insiders own 0.89% of the company’s stock.

Elanco Animal Health Stock Performance

Shares of ELAN opened at $25.25 on Friday. Elanco Animal Health Incorporated has a 1 year low of $8.02 and a 1 year high of $25.63. The stock has a market capitalization of $12.55 billion, a PE ratio of 420.90, a PEG ratio of 3.63 and a beta of 1.87. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.23 and a current ratio of 2.40. The stock has a 50-day simple moving average of $23.16 and a 200-day simple moving average of $20.65.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Elanco Animal Health had a net margin of 0.78% and a return on equity of 7.41%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 EPS. On average, analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on ELAN. Barclays assumed coverage on Elanco Animal Health in a research report on Tuesday, December 9th. They set an “overweight” rating and a $30.00 price target for the company. Piper Sandler upgraded Elanco Animal Health from a “neutral” rating to an “overweight” rating and raised their target price for the company from $24.00 to $30.00 in a report on Thursday, January 22nd. KeyCorp reaffirmed an “overweight” rating on shares of Elanco Animal Health in a research report on Wednesday, December 10th. UBS Group increased their price target on shares of Elanco Animal Health from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Finally, Morgan Stanley lifted their price objective on shares of Elanco Animal Health from $18.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.44.

Elanco Animal Health Profile

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.