The Manufacturers Life Insurance Company Acquires Shares of 8,355,772 Elanco Animal Health Incorporated $ELAN

Key Points

• The Manufacturers Life Insurance Company acquired 8.36 million Elanco shares worth approximately $205.6 million, giving it a 1.67% stake. Institutional investors collectively own 97.48% of the company.
• Analyst sentiment remains favorable, with Elanco holding a consensus “Moderate Buy” rating and an average price target of $29.09. Citigroup and JPMorgan recently raised their price targets.
• Elanco exceeded quarterly earnings expectations, reporting $0.34 in adjusted EPS versus a $0.27 estimate and $1.37 billion in revenue, up 10.2% year over year. Company insiders also purchased 63,198 shares worth $1.47 million over the past three months.

The Manufacturers Life Insurance Company bought a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 8,355,772 shares of the company's stock, valued at approximately $205,636,000. The Manufacturers Life Insurance Company owned about 1.67% of Elanco Animal Health as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ELAN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Elanco Animal Health during the 1st quarter valued at approximately $2,065,000. Goldman Sachs Group Inc. boosted its holdings in Elanco Animal Health by 104.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,787,394 shares of the company's stock worth $50,268,000 after purchasing an additional 2,445,872 shares during the period. Empowered Funds LLC boosted its holdings in Elanco Animal Health by 35.2% in the first quarter. Empowered Funds LLC now owns 15,835 shares of the company's stock worth $166,000 after purchasing an additional 4,121 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Elanco Animal Health by 4.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,793,337 shares of the company's stock worth $18,830,000 after purchasing an additional 76,408 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Elanco Animal Health by 2,006.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 310,383 shares of the company's stock valued at $4,432,000 after purchasing an additional 295,651 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ELAN. Citigroup increased their target price on shares of Elanco Animal Health from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price target on shares of Elanco Animal Health from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Morgan Stanley boosted 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 research report on Wednesday, July 22nd. Weiss Ratings lowered shares of Elanco Animal Health from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday. Finally, Piper Sandler reissued an "overweight" rating on shares of Elanco Animal Health in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Elanco Animal Health currently has a consensus rating of "Moderate Buy" and an average price target of $29.09.

Insiders Place Their Bets

In other Elanco Animal Health news, Director Lawrence Erik Kurzius bought 40,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average cost of $23.40 per share, for a total transaction of $936,000.00. Following the transaction, the director directly owned 188,647 shares in the company, valued at $4,414,339.80. The trade was a 26.91% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert M. Vanhimbergen bought 4,200 shares of the business's stock in a transaction on Friday, August 7th. The shares were acquired at an average cost of $23.08 per share, for a total transaction of $96,936.00. Following the purchase, the chief financial officer directly owned 137,516 shares in the company, valued at $3,173,869.28. This represents a 3.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 63,198 shares of company stock worth $1,473,109. 1.14% of the stock is owned by company insiders.

Elanco Animal Health Trading Up 1.8%

Shares of NYSE:ELAN opened at $24.41 on Tuesday. 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 $24.56 and its 200 day moving average price is $24.00. The company has a market cap of $12.20 billion, a PE ratio of -59.54, a P/E/G ratio of 1.44 and a beta of 1.67. Elanco Animal Health Incorporated has a fifty-two week low of $17.11 and a fifty-two week high of $27.98.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.27 by $0.07. Elanco Animal Health had a negative net margin of 3.96% and a positive return on equity of 8.13%. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.31 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. Elanco Animal Health's quarterly revenue was up 10.2% on a year-over-year basis. 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. Sell-side analysts anticipate 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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