Jupiter Asset Management Ltd. Raises Holdings in Elanco Animal Health Incorporated $ELAN

Jupiter Asset Management Ltd. grew its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 98.8% in the third quarter, Holdings Channel reports. The firm owned 3,716,849 shares of the company’s stock after buying an additional 1,846,907 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Elanco Animal Health were worth $74,857,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. SJS Investment Consulting Inc. boosted its position in shares of Elanco Animal Health by 2,563.5% during the third quarter. SJS Investment Consulting Inc. now owns 1,385 shares of the company’s stock valued at $28,000 after buying an additional 1,333 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Elanco Animal Health by 80.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,021 shares of the company’s stock valued at $42,000 after acquiring an additional 900 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Elanco Animal Health by 79.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,151 shares of the company’s stock valued at $43,000 after acquiring an additional 951 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Elanco Animal Health by 184.3% in the second quarter. First Horizon Advisors Inc. now owns 3,724 shares of the company’s stock worth $53,000 after acquiring an additional 2,414 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Elanco Animal Health by 261.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 4,039 shares of the company’s stock valued at $58,000 after purchasing an additional 2,922 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Insider Activity

In other news, CEO Jeffrey N. Simmons acquired 22,000 shares of Elanco Animal Health stock in a transaction dated 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 completion of the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert M. Vanhimbergen bought 6,950 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were purchased at an average price of $21.64 per share, for a total transaction of $150,398.00. Following the purchase, the chief financial officer owned 124,233 shares in the company, valued at $2,688,402.12. This represents a 5.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 43,450 shares of company stock valued at $937,883. Company insiders own 0.89% of the company’s stock.

Elanco Animal Health Stock Up 1.7%

NYSE ELAN opened at $25.21 on Friday. Elanco Animal Health Incorporated has a 52 week low of $8.02 and a 52 week high of $26.08. 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 market capitalization of $12.53 billion, a P/E ratio of 420.24, a price-to-earnings-growth ratio of 3.70 and a beta of 1.87. The stock’s 50-day moving average price is $23.76 and its 200-day moving average price is $21.32.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ELAN. Weiss Ratings restated a “sell (d+)” rating on shares of Elanco Animal Health in a report on Monday, December 29th. Wall Street Zen raised Elanco Animal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, January 19th. Argus raised Elanco Animal Health from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Wednesday, November 19th. Barclays began coverage on Elanco Animal Health in a research report on Tuesday, December 9th. They set an “overweight” rating and a $30.00 price objective for the company. Finally, KeyCorp reissued an “overweight” rating on shares of Elanco Animal Health in a research report on Wednesday, December 10th. 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.89.

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.