Rhumbline Advisers Grows Position in Elanco Animal Health Incorporated $ELAN

Rhumbline Advisers lifted its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 190.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,319,770 shares of the company’s stock after acquiring an additional 865,420 shares during the period. Rhumbline Advisers owned 0.27% of Elanco Animal Health worth $26,580,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions 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 buying an additional 1,543,279 shares during the period. Brandes Investment Partners LP boosted its stake in 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 in the last quarter. Goldman Sachs Group Inc. increased 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 valued at $50,268,000 after acquiring an additional 2,445,872 shares during the period. Jennison Associates LLC raised its stake in shares of Elanco Animal Health by 322.0% in the second 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 during the last quarter. Finally, Holocene Advisors LP lifted its stake 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 acquiring an additional 649,820 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Price Performance

Shares of ELAN opened at $25.15 on Monday. The firm has a market capitalization of $12.50 billion, a PE ratio of 419.30, a P/E/G ratio of 3.76 and a beta of 1.87. Elanco Animal Health Incorporated has a twelve month low of $8.02 and a twelve month high of $26.08. The stock’s 50 day moving average is $23.46 and its two-hundred day moving average is $21.11. The company has a current ratio of 2.40, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59.

Insiders Place Their Bets

In related news, insider Rajeev A. Modi acquired 4,500 shares of the stock in a transaction dated Thursday, December 11th. The stock was bought at an average cost of $21.33 per share, with a total value of $95,985.00. Following the purchase, the insider directly owned 123,082 shares of the company’s stock, valued at approximately $2,625,339.06. This represents a 3.79% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert M. Vanhimbergen bought 6,950 shares of Elanco Animal Health stock in a transaction that occurred on Thursday, December 11th. The stock was purchased at an average price of $21.64 per share, for a total transaction of $150,398.00. Following the acquisition, the chief financial officer directly owned 124,233 shares of the company’s stock, valued at $2,688,402.12. The trade was a 5.93% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 43,450 shares of company stock valued at $937,883 in the last quarter. Corporate insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

ELAN has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Elanco Animal Health in a report on Monday, December 29th. Morgan Stanley boosted their price target on shares of Elanco Animal Health from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 18th. Zacks Research lowered Elanco Animal Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Piper Sandler raised Elanco Animal Health from a “neutral” rating to an “overweight” rating and upped their price target for the company from $24.00 to $30.00 in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded Elanco Animal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.44.

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.