Illinois Municipal Retirement Fund Trims Holdings in Elanco Animal Health Incorporated $ELAN

Illinois Municipal Retirement Fund reduced its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 53.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,219 shares of the company’s stock after selling 100,254 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Elanco Animal Health were worth $1,757,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ELAN. Hsbc Holdings PLC lifted its holdings in Elanco Animal Health by 434.2% during the 2nd quarter. Hsbc Holdings PLC now owns 126,334 shares of the company’s stock valued at $1,801,000 after buying an additional 102,686 shares in the last quarter. Norges Bank purchased a new position in shares of Elanco Animal Health during the second quarter worth approximately $12,502,000. Amalgamated Bank raised its stake in shares of Elanco Animal Health by 793.7% during the third quarter. Amalgamated Bank now owns 226,580 shares of the company’s stock valued at $4,563,000 after acquiring an additional 201,226 shares in the last quarter. Independent Advisor Alliance raised its stake in shares of Elanco Animal Health by 364.5% during the third quarter. Independent Advisor Alliance now owns 98,025 shares of the company’s stock valued at $1,974,000 after acquiring an additional 76,920 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Elanco Animal Health in the third quarter valued at approximately $1,444,000. 97.48% of the stock is currently owned by institutional investors.

Elanco Animal Health Trading Up 1.5%

ELAN opened at $25.15 on Tuesday. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of 419.30, a PEG ratio of 3.76 and a beta of 1.87. The company has a current ratio of 2.40, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59. Elanco Animal Health Incorporated has a 12 month low of $8.02 and a 12 month high of $26.08. The stock has a fifty day moving average price of $23.53 and a 200-day moving average price of $21.19.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms have commented on ELAN. Wall Street Zen upgraded Elanco Animal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, January 19th. KeyCorp reiterated an “overweight” rating on shares of Elanco Animal Health in a report on Wednesday, December 10th. Morgan Stanley raised their price target on Elanco Animal Health from $18.00 to $22.00 and gave the company an “equal weight” rating in a research note on Thursday, December 18th. Barclays assumed coverage on Elanco Animal Health in a report on Tuesday, December 9th. They issued an “overweight” rating and a $30.00 price objective for the company. Finally, Zacks Research lowered shares of Elanco Animal Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.44.

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.