Wesbanco Bank Inc. Has $1.79 Million Stock Position in Elanco Animal Health Incorporated $ELAN

Wesbanco Bank Inc. lessened its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 40.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 89,000 shares of the company’s stock after selling 60,706 shares during the period. Wesbanco Bank Inc.’s holdings in Elanco Animal Health were worth $1,792,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. SJS Investment Consulting Inc. grew its stake in Elanco Animal Health by 2,563.5% in the third quarter. SJS Investment Consulting Inc. now owns 1,385 shares of the company’s stock valued at $28,000 after purchasing an additional 1,333 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Elanco Animal Health by 80.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,021 shares of the company’s stock valued at $42,000 after buying an additional 900 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Elanco Animal Health by 79.3% in the third quarter. Farther Finance Advisors LLC now owns 2,151 shares of the company’s stock valued at $43,000 after buying an additional 951 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Elanco Animal Health by 184.3% during the second quarter. First Horizon Advisors Inc. now owns 3,724 shares of the company’s stock worth $53,000 after buying an additional 2,414 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in Elanco Animal Health by 29,407.7% during the third quarter. Hantz Financial Services Inc. now owns 3,836 shares of the company’s stock worth $77,000 after buying an additional 3,823 shares during the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elanco Animal Health

In other news, CFO Robert M. Vanhimbergen acquired 6,950 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were purchased at an average cost of $21.64 per share, with a total value of $150,398.00. Following the acquisition, the chief financial officer directly owned 124,233 shares in the company, valued at $2,688,402.12. This represents a 5.93% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeffrey N. Simmons acquired 22,000 shares of the stock in a transaction on Thursday, December 11th. The shares were purchased at an average price of $21.75 per share, for a total transaction of $478,500.00. Following the transaction, the chief executive officer directly owned 167,000 shares in the company, valued at approximately $3,632,250. This trade represents a 15.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 43,450 shares of company stock worth $937,883 over the last three months. Company insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of Elanco Animal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 19th. Zacks Research cut shares of Elanco Animal Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Argus upgraded Elanco Animal Health from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Wednesday, November 19th. Barclays initiated coverage on Elanco Animal Health in a research report on Tuesday, December 9th. They set an “overweight” rating and a $30.00 price target on the stock. Finally, Piper Sandler upgraded Elanco Animal Health from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $24.00 to $30.00 in a research note on Thursday, January 22nd. 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 given a Sell rating to the stock. According to MarketBeat, Elanco Animal Health has a consensus rating of “Moderate Buy” and a consensus target price of $25.44.

Elanco Animal Health Stock Up 3.3%

Shares of ELAN opened at $25.66 on Wednesday. The firm has a market cap of $12.75 billion, a P/E ratio of 427.74, a price-to-earnings-growth ratio of 3.71 and a beta of 1.87. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.23 and a current ratio of 2.40. Elanco Animal Health Incorporated has a 52 week low of $8.02 and a 52 week high of $25.67. The firm’s 50-day simple moving average is $23.26 and its 200 day simple moving average is $20.88.

About Elanco Animal Health

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.