Skylands Capital LLC Lowers Stock Position in Elanco Animal Health Incorporated $ELAN

Skylands Capital LLC cut its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 31.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 295,200 shares of the company’s stock after selling 138,450 shares during the quarter. Skylands Capital LLC’s holdings in Elanco Animal Health were worth $5,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Elanco Animal Health during the 1st quarter valued at $2,065,000. Goldman Sachs Group Inc. boosted its stake in shares of Elanco Animal Health by 104.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,787,394 shares of the company’s stock worth $50,268,000 after acquiring an additional 2,445,872 shares during the period. Empowered Funds LLC raised its stake in Elanco Animal Health by 35.2% during the 1st quarter. Empowered Funds LLC now owns 15,835 shares of the company’s stock valued at $166,000 after purchasing an additional 4,121 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Elanco Animal Health by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,793,337 shares of the company’s stock valued at $18,830,000 after buying an additional 76,408 shares in the last quarter. Finally, KLP Kapitalforvaltning AS grew its holdings in Elanco Animal Health by 5.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 101,000 shares of the company’s stock valued at $1,442,000 after buying an additional 5,000 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on ELAN. Barclays began coverage on shares of Elanco Animal Health in a report on Tuesday, December 9th. They issued an “overweight” rating and a $30.00 target price on the stock. Zacks Research lowered Elanco Animal Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. Piper Sandler raised Elanco Animal Health from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $24.00 to $30.00 in a report on Thursday, January 22nd. Wall Street Zen raised shares of Elanco Animal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, January 19th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Elanco Animal Health in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Elanco Animal Health has a consensus rating of “Moderate Buy” and a consensus target price of $25.44.

Insider Activity

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

Elanco Animal Health Stock Up 3.3%

NYSE ELAN opened at $25.66 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 2.40 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average of $23.26 and a two-hundred day moving average of $20.88. The firm has a market capitalization of $12.75 billion, a price-to-earnings ratio of 427.74, a PEG ratio of 3.71 and a beta of 1.87. Elanco Animal Health Incorporated has a 52 week low of $8.02 and a 52 week high of $25.67.

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.