State of Michigan Retirement System Invests $2.38 Million in Elanco Animal Health Incorporated $ELAN

State of Michigan Retirement System acquired a new stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 118,300 shares of the company’s stock, valued at approximately $2,383,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SJS Investment Consulting Inc. raised its holdings in shares of Elanco Animal Health by 2,563.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,385 shares of the company’s stock valued at $28,000 after acquiring an additional 1,333 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Elanco Animal Health by 80.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,021 shares of the company’s stock worth $42,000 after purchasing an additional 900 shares during the last quarter. Farther Finance Advisors LLC raised its stake in 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 purchasing an additional 951 shares in the last quarter. First Horizon Advisors Inc. lifted its position 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 valued at $53,000 after purchasing an additional 2,414 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in Elanco Animal Health by 261.6% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 4,039 shares of the company’s stock worth $58,000 after buying an additional 2,922 shares in the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Elanco Animal Health in a research report on Monday, December 29th. KeyCorp reaffirmed an “overweight” rating on shares of Elanco Animal Health in a research note on Wednesday, December 10th. Wall Street Zen upgraded Elanco Animal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 19th. UBS Group raised their price objective on Elanco Animal Health from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, Zacks Research downgraded Elanco Animal Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. One 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 assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $25.44.

Insider Activity

In other news, insider Rajeev A. Modi purchased 4,500 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were acquired at an average price of $21.33 per share, with a total value of $95,985.00. Following the acquisition, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey N. Simmons acquired 22,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was 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 of the company’s stock, valued at approximately $3,632,250. This trade represents a 15.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 43,450 shares of company stock worth $937,883. 0.89% of the stock is currently owned by corporate insiders.

Elanco Animal Health Stock Up 0.5%

ELAN opened at $25.74 on Thursday. Elanco Animal Health Incorporated has a 12 month low of $8.02 and a 12 month high of $25.98. The company has a current ratio of 2.40, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average price is $23.33 and its 200-day moving average price is $20.91. The company has a market cap of $12.79 billion, a P/E ratio of 429.12, a P/E/G ratio of 3.83 and a beta of 1.87.

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.