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

Skylands Capital LLC cut its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 31.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 295,200 shares of the company’s stock after selling 138,450 shares during the quarter. Skylands Capital LLC owned approximately 0.06% of Elanco Animal Health worth $5,945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ELAN. Caprock Group LLC purchased a new position in shares of Elanco Animal Health during the third quarter worth approximately $358,000. Rhumbline Advisers grew its stake in shares of Elanco Animal Health by 190.5% during the third quarter. Rhumbline Advisers now owns 1,319,770 shares of the company’s stock valued at $26,580,000 after buying an additional 865,420 shares during the last quarter. Applied Finance Capital Management LLC bought a new position in shares of Elanco Animal Health in the third quarter worth approximately $207,000. Profund Advisors LLC boosted its position in Elanco Animal Health by 7.1% during the 3rd quarter. Profund Advisors LLC now owns 27,158 shares of the company’s stock valued at $547,000 after buying an additional 1,812 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of Elanco Animal Health by 155.5% in the third quarter. ProShare Advisors LLC now owns 31,780 shares of the company’s stock valued at $640,000 after acquiring an additional 19,341 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Performance

Shares of ELAN stock opened at $25.66 on Wednesday. The company has a market capitalization of $12.75 billion, a price-to-earnings 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 one year low of $8.02 and a one year high of $25.67. The company’s 50-day moving average is $23.26 and its 200 day moving average is $20.88.

Wall Street Analyst Weigh In

ELAN has been the topic of a number of research analyst reports. Argus upgraded Elanco Animal Health from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Wednesday, November 19th. Wall Street Zen raised Elanco Animal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 19th. UBS Group lifted their price target on Elanco Animal Health from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Zacks Research downgraded Elanco Animal Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Finally, KeyCorp restated an “overweight” rating on shares of Elanco Animal Health in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.44.

Insider Transactions at Elanco Animal Health

In other news, CFO Robert M. Vanhimbergen bought 6,950 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were acquired at an average cost of $21.64 per share, with a total value of $150,398.00. Following the completion of the transaction, the chief financial officer owned 124,233 shares of the company’s stock, valued at approximately $2,688,402.12. This trade represents a 5.93% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Rajeev A. Modi purchased 4,500 shares of Elanco Animal Health stock in a transaction dated Thursday, December 11th. The shares were acquired at an average cost of $21.33 per share, with a total value of $95,985.00. Following the transaction, the insider directly owned 123,082 shares in the company, valued at approximately $2,625,339.06. The trade was a 3.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 43,450 shares of company stock valued at $937,883 over the last 90 days. 0.89% of the stock is owned by corporate insiders.

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.