118,300 Shares in Elanco Animal Health Incorporated $ELAN Bought by State of Michigan Retirement System

State of Michigan Retirement System bought a new stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) during the third quarter, Holdings Channel.com reports. The fund bought 118,300 shares of the company’s stock, valued at approximately $2,383,000.

Other institutional investors have also added to or reduced their stakes in the company. Primecap Management Co. CA increased its stake in shares of Elanco Animal Health by 3.1% during the second quarter. Primecap Management Co. CA now owns 51,766,814 shares of the company’s stock valued at $739,230,000 after purchasing an additional 1,543,279 shares in the last quarter. Brandes Investment Partners LP raised its position in shares of Elanco Animal Health by 11.3% in the 2nd quarter. Brandes Investment Partners LP now owns 8,100,322 shares of the company’s stock worth $115,673,000 after purchasing an additional 820,901 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Elanco Animal Health by 104.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,787,394 shares of the company’s stock worth $50,268,000 after purchasing an additional 2,445,872 shares during the last quarter. Jennison Associates LLC boosted its stake in Elanco Animal Health by 322.0% in the 2nd quarter. Jennison Associates LLC now owns 3,234,717 shares of the company’s stock worth $46,192,000 after purchasing an additional 2,468,122 shares in the last quarter. Finally, Holocene Advisors LP grew its position in Elanco Animal Health by 29.1% during the 2nd quarter. Holocene Advisors LP now owns 2,886,294 shares of the company’s stock valued at $41,216,000 after purchasing an additional 649,820 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on ELAN shares. KeyCorp reaffirmed an “overweight” rating on shares of Elanco Animal Health in a report on Wednesday, December 10th. UBS Group boosted their price objective on shares of Elanco Animal Health from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Morgan Stanley upped their price objective on Elanco Animal Health from $18.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday, December 18th. Zacks Research cut Elanco Animal Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, Wall Street Zen raised Elanco Animal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.44.

Insider Transactions at Elanco Animal Health

In other Elanco Animal Health news, CEO Jeffrey N. Simmons purchased 22,000 shares of Elanco Animal Health stock in a transaction dated Thursday, December 11th. The stock was purchased at an average price of $21.75 per share, with a total value of $478,500.00. Following the transaction, the chief executive officer directly owned 167,000 shares of the company’s stock, valued at $3,632,250. This trade represents a 15.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rajeev A. Modi acquired 4,500 shares of the stock in a transaction dated Thursday, December 11th. The stock was acquired at an average price of $21.33 per share, for a total transaction of $95,985.00. Following the purchase, the insider directly owned 123,082 shares in the company, valued at approximately $2,625,339.06. This trade represents a 3.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 43,450 shares of company stock worth $937,883 in the last three months. 0.89% of the stock is owned by insiders.

Elanco Animal Health Price Performance

Shares of ELAN opened at $25.74 on Thursday. The firm has a fifty day simple moving average of $23.33 and a two-hundred day simple moving average of $20.91. The firm has a market cap of $12.79 billion, a PE ratio of 429.12, a P/E/G ratio of 3.83 and a beta of 1.87. The company has a current ratio of 2.40, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59. Elanco Animal Health Incorporated has a 1-year low of $8.02 and a 1-year high of $25.98.

Elanco Animal Health Company 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.