Illinois Municipal Retirement Fund Sells 100,254 Shares of Elanco Animal Health Incorporated $ELAN

Illinois Municipal Retirement Fund decreased its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 53.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 institutional investors have also bought and sold shares of ELAN. Hsbc Holdings PLC grew its position in shares of Elanco Animal Health by 434.2% during the second quarter. Hsbc Holdings PLC now owns 126,334 shares of the company’s stock valued at $1,801,000 after purchasing an additional 102,686 shares in the last quarter. Norges Bank purchased a new stake in shares of Elanco Animal Health in the second quarter worth about $12,502,000. Amalgamated Bank boosted its stake in 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 buying an additional 201,226 shares during the last quarter. Independent Advisor Alliance grew its holdings in Elanco Animal Health by 364.5% during the 3rd quarter. Independent Advisor Alliance now owns 98,025 shares of the company’s stock valued at $1,974,000 after buying an additional 76,920 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in Elanco Animal Health during the 3rd quarter valued at approximately $1,444,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Insider Activity

In other Elanco Animal Health news, insider Rajeev A. Modi bought 4,500 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was acquired at an average price of $21.33 per share, for a total transaction of $95,985.00. Following the completion of the transaction, the insider directly owned 123,082 shares of the company’s stock, valued at approximately $2,625,339.06. This represents a 3.79% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey N. Simmons bought 22,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were acquired at an average cost of $21.75 per share, for a total transaction of $478,500.00. Following the purchase, the chief executive officer owned 167,000 shares of the company’s stock, valued at approximately $3,632,250. The trade was a 15.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 43,450 shares of company stock valued at $937,883 in the last quarter. 0.89% of the stock is currently owned by company insiders.

Elanco Animal Health Stock Up 1.5%

Shares of ELAN opened at $25.15 on Tuesday. 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 business has a fifty day moving average of $23.53 and a 200 day moving average of $21.19. The company has a market cap of $12.50 billion, a PE ratio of 419.30, a P/E/G ratio of 3.76 and a beta of 1.87. Elanco Animal Health Incorporated has a 52-week low of $8.02 and a 52-week high of $26.08.

Analyst Upgrades and Downgrades

ELAN has been the topic of several recent research reports. Morgan Stanley upped their price objective on Elanco Animal Health from $18.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, December 18th. Wall Street Zen upgraded shares of Elanco Animal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 19th. Barclays assumed coverage on shares of Elanco Animal Health in a research note on Tuesday, December 9th. They set an “overweight” rating and a $30.00 price target on the stock. Piper Sandler raised shares of Elanco Animal Health from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $24.00 to $30.00 in a research note on Thursday, January 22nd. Finally, KeyCorp restated an “overweight” rating on shares of Elanco Animal Health in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Elanco Animal Health currently has an average rating of “Moderate Buy” and a consensus target price of $25.44.

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.