Bank of New York Mellon Corp Makes New Investment in Elanco Animal Health Incorporated $ELAN

Key Points

• Bank of New York Mellon acquired 3.41 million Elanco shares in the second quarter, valued at approximately $84 million and representing about 0.68% of the company.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $29.09. Institutional investors own 97.48% of Elanco, while insiders purchased 63,198 shares worth roughly $1.47 million during the last quarter.
• Elanco exceeded quarterly expectations, reporting adjusted EPS of $0.34 versus the $0.27 consensus and revenue of $1.37 billion. Shares opened at $25.11, within a 52-week range of $17.11 to $27.98.

Bank of New York Mellon Corp acquired a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,411,532 shares of the company's stock, valued at approximately $83,958,000. Bank of New York Mellon Corp owned about 0.68% of Elanco Animal Health at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELAN. NewEdge Advisors LLC grew its holdings in Elanco Animal Health by 133.7% during the 4th quarter. NewEdge Advisors LLC now owns 1,096 shares of the company's stock worth $25,000 after acquiring an additional 627 shares during the period. Root Financial Partners LLC lifted its stake in shares of Elanco Animal Health by 50.7% in the 4th quarter. Root Financial Partners LLC now owns 1,759 shares of the company's stock valued at $40,000 after purchasing an additional 592 shares during the period. Uniplan Investment Counsel Inc. acquired a new position in shares of Elanco Animal Health in the 4th quarter valued at about $41,000. Torren Management LLC bought a new stake in shares of Elanco Animal Health during the 4th quarter valued at about $46,000. Finally, Bessemer Group Inc. boosted its position in shares of Elanco Animal Health by 33.2% during the 1st quarter. Bessemer Group Inc. now owns 2,105 shares of the company's stock valued at $50,000 after purchasing an additional 525 shares in the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ELAN has been the subject of a number of research analyst reports. Citigroup lifted their target price on Elanco Animal Health from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Weiss Ratings downgraded shares of Elanco Animal Health from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, August 20th. Morgan Stanley upped their price objective on shares of Elanco Animal Health from $23.00 to $26.00 and gave the company an "equal weight" rating in a report on Wednesday, July 22nd. UBS Group upped their price objective on shares of Elanco Animal Health from $31.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Piper Sandler reissued an "overweight" rating on shares of Elanco Animal Health in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.09.

Insiders Place Their Bets

In related news, insider Shiv O'neill bought 3,998 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $23.58 per share, for a total transaction of $94,272.84. Following the completion of the purchase, the insider directly owned 87,832 shares in the company, valued at $2,071,078.56. The trade was a 4.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Paul Herendeen acquired 10,000 shares of Elanco Animal Health stock in a transaction on Friday, August 7th. The shares were purchased at an average cost of $23.68 per share, with a total value of $236,800.00. Following the completion of the acquisition, the director owned 111,687 shares of the company's stock, valued at $2,644,748.16. This trade represents a 9.83% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 63,198 shares of company stock valued at $1,473,109. Company insiders own 1.14% of the company's stock.

Elanco Animal Health Price Performance

Elanco Animal Health stock opened at $25.11 on Wednesday. The stock has a market cap of $12.55 billion, a P/E ratio of -61.25, a P/E/G ratio of 1.46 and a beta of 1.67. The company has a quick ratio of 1.10, a current ratio of 2.05 and a debt-to-equity ratio of 0.58. The company's 50 day moving average price is $24.58 and its two-hundred day moving average price is $24.01. Elanco Animal Health Incorporated has a 52 week low of $17.11 and a 52 week high of $27.98.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.07. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.31 billion. Elanco Animal Health had a positive return on equity of 8.13% and a negative net margin of 3.96%.Elanco Animal Health's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $0.26 earnings per share. Elanco Animal Health has set its Q3 2026 guidance at 0.190-0.220 EPS and its FY 2026 guidance at 1.100-1.160 EPS. On average, equities analysts predict that Elanco Animal Health Incorporated will post 1.12 earnings per share for the current year.

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.

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