Wellington Management Group LLP Decreases Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Wellington Management Group LLP trimmed its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN – Free Report) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,849,081 shares of the company’s stock after selling 381,837 shares during the quarter. Wellington Management Group LLP owned approximately 1.19% of Elanco Animal Health worth $87,151,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ELAN. Norges Bank acquired a new position in Elanco Animal Health in the fourth quarter valued at $62,510,000. Dimensional Fund Advisors LP increased its stake in Elanco Animal Health by 33.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,095,179 shares of the company’s stock worth $224,920,000 after acquiring an additional 3,816,514 shares during the last quarter. Ancora Advisors LLC purchased a new stake in shares of Elanco Animal Health in the third quarter worth about $37,189,000. Primecap Management Co. CA boosted its position in shares of Elanco Animal Health by 2.9% in the fourth quarter. Primecap Management Co. CA now owns 50,600,324 shares of the company’s stock worth $753,945,000 after buying an additional 1,431,665 shares during the period. Finally, Wolf Hill Capital Management LP purchased a new stake in shares of Elanco Animal Health in the fourth quarter worth about $20,683,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director William F. Doyle purchased 15,000 shares of Elanco Animal Health stock in a transaction on Tuesday, May 21st. The stock was bought at an average price of $16.98 per share, with a total value of $254,700.00. Following the completion of the transaction, the director now directly owns 76,330 shares of the company’s stock, valued at $1,296,083.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Elanco Animal Health Stock Performance

Shares of Elanco Animal Health stock opened at $18.05 on Friday. The stock has a market cap of $8.92 billion, a PE ratio of -6.81, a price-to-earnings-growth ratio of 1.76 and a beta of 1.45. The business has a fifty day simple moving average of $16.13 and a 200-day simple moving average of $15.55. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.95. Elanco Animal Health Incorporated has a 12 month low of $8.52 and a 12 month high of $18.80.

Elanco Animal Health (NYSE:ELAN – Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the company earned $0.45 earnings per share. Elanco Animal Health’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.93 EPS for the current fiscal year.

Analyst Ratings Changes

ELAN has been the subject of a number of analyst reports. Morgan Stanley increased their price target on Elanco Animal Health from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. The Goldman Sachs Group increased their price target on Elanco Animal Health from $12.50 to $14.00 and gave the stock a “sell” rating in a research report on Tuesday, February 27th. Piper Sandler restated a “neutral” rating and issued a $19.00 target price (up from $18.00) on shares of Elanco Animal Health in a research report on Monday, May 13th. TheStreet upgraded Elanco Animal Health from a “d+” rating to a “c-” rating in a research report on Friday, February 23rd. Finally, Barclays increased their price target on Elanco Animal Health from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.29.

Read Our Latest Research Report on ELAN

Elanco Animal Health Company Profile

(Free Report)

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.

Further Reading

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