Elanco Animal Health Incorporated (NYSE:ELAN) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Elanco Animal Health by 0.9%, selling 437,731 shares, and now holds 9.73% of the company worth approximately $507 million.
• Several other large investors have increased their positions in Elanco, with Northern Trust Corp raising its stake by 22.5%, showing significant institutional interest in the company.
• Analysts have increased price targets for Elanco, with Piper Sandler raising it from $12.00 to $18.00 and a consensus target price of $17.33, indicating a generally positive outlook for the stock.

Vanguard Group Inc. cut its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,323,246 shares of the company's stock after selling 437,731 shares during the period. Vanguard Group Inc. owned approximately 9.73% of Elanco Animal Health worth $507,394,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ELAN. Allworth Financial LP raised its stake in Elanco Animal Health by 791.7% during the 1st quarter. Allworth Financial LP now owns 2,354 shares of the company's stock valued at $25,000 after acquiring an additional 2,090 shares during the last quarter. CoreCap Advisors LLC purchased a new position in shares of Elanco Animal Health during the 4th quarter worth approximately $29,000. NBC Securities Inc. purchased a new position in shares of Elanco Animal Health during the 1st quarter worth approximately $40,000. Parallel Advisors LLC raised its stake in shares of Elanco Animal Health by 92.2% during the 1st quarter. Parallel Advisors LLC now owns 3,860 shares of the company's stock worth $41,000 after buying an additional 1,852 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Elanco Animal Health by 65.9% during the 1st quarter. Versant Capital Management Inc now owns 4,382 shares of the company's stock worth $46,000 after buying an additional 1,740 shares in the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ELAN has been the subject of a number of analyst reports. Leerink Partners raised Elanco Animal Health from a "market perform" rating to an "outperform" rating and set a $18.00 target price for the company in a research note on Thursday, July 17th. Leerink Partnrs raised Elanco Animal Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 17th. Wall Street Zen raised Elanco Animal Health from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Stifel Nicolaus increased their target price on Elanco Animal Health from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Piper Sandler increased their target price on Elanco Animal Health from $12.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Elanco Animal Health presently has a consensus rating of "Moderate Buy" and an average price target of $17.33.

Elanco Animal Health Price Performance

Shares of ELAN traded down $0.03 on Friday, reaching $17.97. The stock had a trading volume of 6,846,893 shares, compared to its average volume of 6,071,275. The firm has a market capitalization of $8.93 billion, a PE ratio of 20.90, a PEG ratio of 3.33 and a beta of 1.66. The company has a quick ratio of 1.40, a current ratio of 2.60 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average of $14.73 and a 200 day moving average of $12.27. Elanco Animal Health Incorporated has a twelve month low of $8.02 and a twelve month high of $18.08.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.06. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.19 billion. Elanco Animal Health had a return on equity of 7.04% and a net margin of 9.68%. The company's revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. Sell-side analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

About Elanco Animal Health

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.