Bowen Hanes & Co. Inc. Takes $47.63 Million Position in Elanco Animal Health Incorporated $ELAN

Bowen Hanes & Co. Inc. acquired a new position in Elanco Animal Health Incorporated (NYSE:ELAN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,364,770 shares of the company’s stock, valued at approximately $47,626,000. Bowen Hanes & Co. Inc. owned about 0.48% of Elanco Animal Health as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Hsbc Holdings PLC grew its stake in shares of Elanco Animal Health by 434.2% during the 2nd quarter. Hsbc Holdings PLC now owns 126,334 shares of the company’s stock worth $1,801,000 after purchasing an additional 102,686 shares during the period. Norges Bank acquired a new position in shares of Elanco Animal Health in the 2nd quarter valued at $12,502,000. Amalgamated Bank boosted its holdings in Elanco Animal Health by 793.7% during the third quarter. Amalgamated Bank now owns 226,580 shares of the company’s stock worth $4,563,000 after buying an additional 201,226 shares in the last quarter. Independent Advisor Alliance boosted its holdings in Elanco Animal Health by 364.5% during the third quarter. Independent Advisor Alliance now owns 98,025 shares of the company’s stock worth $1,974,000 after buying an additional 76,920 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Elanco Animal Health during the third quarter valued at $1,444,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Price Performance

NYSE:ELAN opened at $24.96 on Friday. The stock has a 50 day moving average of $23.84 and a two-hundred day moving average of $21.44. Elanco Animal Health Incorporated has a 12 month low of $8.02 and a 12 month high of $26.08. The firm has a market cap of $12.40 billion, a P/E ratio of 416.09, a price-to-earnings-growth ratio of 3.73 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.

Insider Transactions at Elanco Animal Health

In other Elanco Animal Health news, CEO Jeffrey N. Simmons bought 22,000 shares of Elanco Animal Health stock in a transaction dated Thursday, December 11th. The stock was acquired at an average cost of $21.75 per share, for a total transaction of $478,500.00. Following the completion of the transaction, the chief executive officer directly owned 167,000 shares of the company’s stock, valued at approximately $3,632,250. This represents a 15.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert M. Vanhimbergen purchased 6,950 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was acquired at an average cost of $21.64 per share, for a total transaction of $150,398.00. Following the completion of the purchase, the chief financial officer owned 124,233 shares of the company’s stock, valued at approximately $2,688,402.12. This represents a 5.93% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 43,450 shares of company stock valued at $937,883 in the last 90 days. 0.89% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ELAN. UBS Group upped their price objective on shares of Elanco Animal Health from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Piper Sandler raised Elanco Animal Health from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $24.00 to $30.00 in a report on Thursday, January 22nd. JPMorgan Chase & Co. increased their price target on Elanco Animal Health from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday. KeyCorp restated an “overweight” rating on shares of Elanco Animal Health in a research report on Wednesday, December 10th. Finally, Wall Street Zen raised Elanco Animal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 19th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.89.

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.