Northwestern Mutual Investment Management Company LLC Buys Shares of 110,738 Elanco Animal Health Incorporated $ELAN

Northwestern Mutual Investment Management Company LLC purchased a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 110,738 shares of the company’s stock, valued at approximately $2,230,000.

A number of other large investors also recently modified their holdings of the company. Hsbc Holdings PLC raised its position in 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 last quarter. Norges Bank bought a new stake in shares of Elanco Animal Health in the 2nd quarter valued at about $12,502,000. Amalgamated Bank increased its stake in shares of Elanco Animal Health by 793.7% in 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 period. Independent Advisor Alliance raised its position 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 worth $1,974,000 after acquiring an additional 76,920 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Elanco Animal Health in the third quarter worth approximately $1,444,000. 97.48% of the stock is currently owned by institutional investors.

Insider Activity at Elanco Animal Health

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, for a total transaction of $95,985.00. Following the completion of the acquisition, the insider 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 legal filing with the SEC, which can be accessed through this link. Also, CFO Robert M. Vanhimbergen acquired 6,950 shares of Elanco Animal Health stock in a transaction on Thursday, December 11th. The stock was purchased at an average cost of $21.64 per share, with a total value of $150,398.00. Following the purchase, the chief financial officer directly owned 124,233 shares of the company’s stock, valued at approximately $2,688,402.12. This trade represents a 5.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 43,450 shares of company stock worth $937,883 over the last quarter. Company insiders own 0.89% of the company’s stock.

Elanco Animal Health Stock Up 1.5%

Shares of NYSE ELAN opened at $25.15 on Tuesday. The firm 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 12-month low of $8.02 and a 12-month high of $26.08. The company’s fifty day simple moving average is $23.53 and its 200 day simple moving average is $21.19. The company has a quick ratio of 1.23, a current ratio of 2.40 and a debt-to-equity ratio of 0.59.

Wall Street Analysts Forecast Growth

ELAN has been the subject of a number of recent analyst reports. Barclays initiated coverage on shares of Elanco Animal Health in a research report on Tuesday, December 9th. They set an “overweight” rating and a $30.00 target price for the company. KeyCorp reaffirmed an “overweight” rating on shares of Elanco Animal Health in a research note on Wednesday, December 10th. 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. Morgan Stanley boosted their target price on shares of Elanco Animal Health from $18.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, December 18th. Finally, Zacks Research downgraded Elanco Animal Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, Elanco Animal Health currently has a consensus rating of “Moderate Buy” and a consensus target price 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.