PRIMECAP Boosts Elanco Stake to 10.3%, Holding 50.6M Shares

Ticker: ELAN · Form: SC 13G/A · Filed: 2024-02-12T00:00:00.000Z

Sentiment: bullish

Topics: institutional-ownership, amendment, animal-health, investor-confidence

TL;DR

**PRIMECAP just upped its Elanco stake to 10.3%, a bullish sign from a big player.**

AI Summary

PRIMECAP Management Company, an investment firm based in Pasadena, CA, filed an amended SC 13G/A on February 12, 2024, disclosing its ownership in Elanco Animal Health Inc. As of December 31, 2023, PRIMECAP beneficially owned 50,600,324 shares, representing 10.3% of Elanco's common stock. This is an increase from their previous filing, indicating PRIMECAP's continued confidence in Elanco, which could signal a positive outlook for current and prospective shareholders.

Why It Matters

This filing shows a major institutional investor, PRIMECAP Management, has increased its stake in Elanco, suggesting they see value in the company and potentially signaling future growth or stability for the stock.

Risk Assessment

Risk Level: low — This filing indicates a major institutional investor is increasing its stake, which is generally seen as a positive signal and reduces perceived risk.

Analyst Insight

A smart investor would view this increased institutional ownership as a positive signal, potentially indicating a good entry point or reason to hold Elanco stock, and might research PRIMECAP's investment thesis for Elanco.

Key Numbers

50,600,324 — Aggregate Shares Beneficially Owned (This is the total number of Elanco shares PRIMECAP Management Company owns, indicating their significant investment.)
10.3% — Percentage of Class (This represents the portion of Elanco's common stock PRIMECAP owns, making them a substantial shareholder.)
47,570,754 — Sole Voting Power (This shows the number of shares PRIMECAP can vote on its own, highlighting its influence in corporate decisions.)
50,600,324 — Sole Dispositive Power (This indicates the number of shares PRIMECAP can sell or dispose of independently, reflecting their control over a large block of stock.)

Key Players & Entities

PRIMECAP Management Company (company) — the reporting person and institutional investor
Elanco Animal Health Inc (company) — the subject company whose shares are being reported
50,600,324 (dollar_amount) — aggregate shares beneficially owned by PRIMECAP
10.3% (dollar_amount) — percentage of Elanco's common stock owned by PRIMECAP
December 31, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

Elanco Animal Health Inc. stock price will see increased stability or upward pressure due to significant institutional backing. (Elanco Animal Health Inc.) — medium confidence, target: Q2 2024
PRIMECAP Management Company will maintain or further increase its stake in Elanco, signaling continued long-term confidence. (PRIMECAP Management Company) — medium confidence, target: Q4 2024

FAQ

What is the primary purpose of this SC 13G/A filing?

This SC 13G/A filing is an amendment (Amendment No. 6) by PRIMECAP Management Company to report its beneficial ownership of common stock in Elanco Animal Health Inc. as of December 31, 2023, under Rule 13d-1(b) of the Securities Exchange Act of 1934.

How many shares of Elanco Animal Health Inc. does PRIMECAP Management Company beneficially own?

As of December 31, 2023, PRIMECAP Management Company beneficially owns an aggregate of 50,600,324 shares of Elanco Animal Health Inc. common stock.

What percentage of Elanco Animal Health Inc.'s common stock does PRIMECAP Management Company own?

PRIMECAP Management Company owns 10.3% of the class of common stock of Elanco Animal Health Inc., based on the aggregate amount beneficially owned.

What are the sole voting and sole dispositive powers reported by PRIMECAP Management Company?

PRIMECAP Management Company reports having sole voting power over 47,570,754 shares and sole dispositive power over 50,600,324 shares of Elanco Animal Health Inc.

When was the event date that required this filing?

The date of the event which required the filing of this statement was December 31, 2023.

From the Filing

0001085146-24-001094.txt : 20240212 0001085146-24-001094.hdr.sgml : 20240212 20240212160130 ACCESSION NUMBER: 0001085146-24-001094 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240212 DATE AS OF CHANGE: 20240212 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Elanco Animal Health Inc CENTRAL INDEX KEY: 0001739104 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 825497352 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-90921 FILM NUMBER: 24619777 BUSINESS ADDRESS: STREET 1: 2500 INNOVATION WAY CITY: GREENFIELD STATE: IN ZIP: 46140 BUSINESS PHONE: 877-352-6261 MAIL ADDRESS: STREET 1: 2500 INNOVATION WAY CITY: GREENFIELD STATE: IN ZIP: 46140 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PRIMECAP MANAGEMENT CO/CA/ CENTRAL INDEX KEY: 0000763212 ORGANIZATION NAME: IRS NUMBER: 953868081 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 177 EAST COLORADO BLVD. STREET 2: 11TH FLOOR CITY: PASADENA STATE: CA ZIP: 91105 BUSINESS PHONE: 6263049222 MAIL ADDRESS: STREET 1: 177 EAST COLORADO BLVD. STREET 2: 11TH FLOOR CITY: PASADENA STATE: CA ZIP: 91105 SC 13G/A 1 elana6_21224.htm PRIMECAP MANAGEMENT CO/CA/ elana6_21224.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 6)* Elanco Animal Health Inc (Name of Issuer) COM (Title of Class of Securities) 28414H103 (CUSIP Number) December 31, 2023 (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see Instructions). CUSIP No.: 28414H103 1 NAME OF REPORTING PERSON PRIMECAP Management Company I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 95-3868081 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION 177 E. Colorado Blvd., 11th Floor, Pasadena, CA 91105 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER 47,570,754 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 50,600,324 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 50,600,324 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 10.27% 12 TYPE OF REPORTING PERSON IA CUSIP No.: 28414H103 ITEM 1(a). NAME OF ISSUER: Elanco Animal Health Inc ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 2500 Innovation Way, Greenfield, IN 46140 ITEM 2(a). NAME OF PERSON FILING: PRIMECAP Management Company ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 177 E. Colorado Blvd., 11th Floor, Pasadena, CA 91105 ITEM 2(c). CITIZENSHIP: U.S.A. ITEM 2(d). TITLE OF CLASS OF SECURITIES: COM ITEM 2(e). CUSIP NUMBER: 28414H103 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c); (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [ ] Investment company registered under Se