Channing Capital Management LLC Reduces Stake in Elanco Animal Health Incorporated $ELAN

Channing Capital Management LLC trimmed its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 20.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 505,191 shares of the company’s stock after selling 129,579 shares during the quarter. Channing Capital Management LLC owned approximately 0.10% of Elanco Animal Health worth $10,175,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Primecap Management Co. CA increased its holdings in Elanco Animal Health by 3.1% during the 2nd quarter. Primecap Management Co. CA now owns 51,766,814 shares of the company’s stock valued at $739,230,000 after acquiring an additional 1,543,279 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Elanco Animal Health by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 48,586,708 shares of the company’s stock worth $978,536,000 after purchasing an additional 759,623 shares in the last quarter. Brandes Investment Partners LP raised its position in shares of Elanco Animal Health by 11.3% during the 2nd quarter. Brandes Investment Partners LP now owns 8,100,322 shares of the company’s stock worth $115,673,000 after purchasing an additional 820,901 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Elanco Animal Health by 104.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,787,394 shares of the company’s stock worth $50,268,000 after purchasing an additional 2,445,872 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its stake in Elanco Animal Health by 98.8% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 3,716,849 shares of the company’s stock valued at $74,857,000 after buying an additional 1,846,907 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ELAN. Piper Sandler raised Elanco Animal Health from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $24.00 to $30.00 in a report on Thursday, January 22nd. Wall Street Zen raised shares of Elanco Animal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 19th. KeyCorp reaffirmed an “overweight” rating on shares of Elanco Animal Health in a research note on Wednesday, December 10th. Argus upgraded shares of Elanco Animal Health from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Wednesday, November 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Elanco Animal Health from $24.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.89.

Elanco Animal Health Stock Down 0.9%

ELAN opened at $24.96 on Friday. Elanco Animal Health Incorporated has a 12 month low of $8.02 and a 12 month high of $26.08. The business has a 50-day moving average of $23.84 and a two-hundred day moving average of $21.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.40 and a quick ratio of 1.23. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 416.09, a price-to-earnings-growth ratio of 3.73 and a beta of 1.87.

Insider Activity at Elanco Animal Health

In related news, Director Lawrence Erik Kurzius acquired 10,000 shares of the stock in a transaction dated Friday, December 12th. The stock was bought at an average cost of $21.30 per share, with a total value of $213,000.00. Following the purchase, the director directly owned 131,773 shares of the company’s stock, valued at approximately $2,806,764.90. This represents a 8.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey N. Simmons acquired 22,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were purchased at an average price of $21.75 per share, with a total value of $478,500.00. Following the completion of the acquisition, the chief executive officer owned 167,000 shares in the company, valued at approximately $3,632,250. The trade was a 15.17% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 43,450 shares of company stock worth $937,883. 0.89% of the stock is currently owned by company 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.