Old West Investment Management LLC Grows Position in Elanco Animal Health Incorporated $ELAN

Old West Investment Management LLC grew its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 452,230 shares of the company’s stock after buying an additional 26,888 shares during the quarter. Elanco Animal Health makes up 2.1% of Old West Investment Management LLC’s portfolio, making the stock its 17th biggest holding. Old West Investment Management LLC owned 0.09% of Elanco Animal Health worth $9,108,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ELAN. AlphaQuest LLC lifted its stake in shares of Elanco Animal Health by 13.7% during the 3rd quarter. AlphaQuest LLC now owns 5,953 shares of the company’s stock valued at $120,000 after buying an additional 718 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Elanco Animal Health by 15.2% during the third quarter. Jones Financial Companies Lllp now owns 6,065 shares of the company’s stock valued at $119,000 after acquiring an additional 798 shares during the period. MTM Investment Management LLC lifted its position in shares of 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. boosted its stake in shares of Elanco Animal Health by 80.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,021 shares of the company’s stock worth $42,000 after acquiring an additional 900 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Elanco Animal Health by 8.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,516 shares of the company’s stock worth $169,000 after acquiring an additional 944 shares during the period. 97.48% of the stock is owned by hedge funds and other institutional investors.

Elanco Animal Health Price Performance

Elanco Animal Health stock opened at $25.25 on Friday. Elanco Animal Health Incorporated has a 52-week low of $8.02 and a 52-week high of $25.63. 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 firm’s fifty day moving average is $23.16 and its 200 day moving average is $20.65. The company has a market cap of $12.55 billion, a price-to-earnings ratio of 420.90, a PEG ratio of 3.63 and a beta of 1.87.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Piper Sandler raised Elanco Animal Health from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $24.00 to $30.00 in a research note on Thursday, January 22nd. Zacks Research cut shares of Elanco Animal Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. Morgan Stanley boosted their target price on shares of Elanco Animal Health from $18.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, December 18th. Argus raised shares of Elanco Animal Health from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Elanco Animal Health in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.44.

Insider Activity

In related news, insider Rajeev A. Modi purchased 4,500 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was purchased at an average price of $21.33 per share, with a total value of $95,985.00. Following the completion of the purchase, the insider owned 123,082 shares of the company’s stock, valued at approximately $2,625,339.06. The trade was a 3.79% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey N. Simmons bought 22,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were purchased at an average cost of $21.75 per share, with a total value of $478,500.00. Following the completion of the transaction, the chief executive officer owned 167,000 shares in the company, valued at $3,632,250. This represents a 15.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 43,450 shares of company stock valued at $937,883. 0.89% of the stock is currently owned by company insiders.

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.