Rhumbline Advisers Raises Stock Position in Elanco Animal Health Incorporated $ELAN

Rhumbline Advisers increased its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 190.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,319,770 shares of the company’s stock after purchasing an additional 865,420 shares during the period. Rhumbline Advisers’ holdings in Elanco Animal Health were worth $26,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. AlphaQuest LLC boosted its position in shares of Elanco Animal Health by 13.7% in the third quarter. AlphaQuest LLC now owns 5,953 shares of the company’s stock worth $120,000 after buying an additional 718 shares during the period. Jones Financial Companies Lllp lifted its position in Elanco Animal Health by 15.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 6,065 shares of the company’s stock worth $119,000 after acquiring an additional 798 shares in the last quarter. MTM Investment Management LLC grew its position in Elanco Animal Health by 5.5% in the second quarter. MTM Investment Management LLC now owns 15,268 shares of the company’s stock valued at $218,000 after acquiring an additional 800 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Elanco Animal Health by 80.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,021 shares of the company’s stock valued at $42,000 after purchasing an additional 900 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Elanco Animal Health by 79.3% during the third quarter. Farther Finance Advisors LLC now owns 2,151 shares of the company’s stock valued at $43,000 after purchasing an additional 951 shares during the period. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Elanco Animal Health

In other Elanco Animal Health news, CFO Robert M. Vanhimbergen acquired 6,950 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were purchased at an average price of $21.64 per share, for a total transaction of $150,398.00. Following the completion of the purchase, the chief financial officer directly owned 124,233 shares in the company, valued at $2,688,402.12. The trade was a 5.93% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Rajeev A. Modi bought 4,500 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was acquired at an average cost of $21.33 per share, for a total transaction of $95,985.00. Following the acquisition, the insider directly owned 123,082 shares of the company’s stock, valued at $2,625,339.06. The trade was a 3.79% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 43,450 shares of company stock worth $937,883. Company insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ELAN. Barclays started coverage on shares of Elanco Animal Health in a report on Tuesday, December 9th. They set an “overweight” rating and a $30.00 price target for the company. Zacks Research lowered Elanco Animal Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Elanco Animal Health in a report on Monday, December 29th. Piper Sandler upgraded Elanco Animal Health from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $24.00 to $30.00 in a research note on Thursday, January 22nd. Finally, Argus raised Elanco Animal Health from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Elanco Animal Health has a consensus rating of “Moderate Buy” and an average price target of $25.44.

Elanco Animal Health Price Performance

Shares of ELAN opened at $25.15 on Monday. Elanco Animal Health Incorporated has a 52 week low of $8.02 and a 52 week high of $26.08. The company has a current ratio of 2.40, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of 419.30, a PEG ratio of 3.76 and a beta of 1.87. The stock has a 50 day moving average of $23.46 and a 200-day moving average of $21.11.

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.