Wellington Management Group LLP Sells 359,806 Shares of Elanco Animal Health Incorporated $ELAN

Key Points

• Wellington Management reduced its Elanco Animal Health stake by 11.9%, selling 359,806 shares and retaining 2.68 million shares worth approximately $65.9 million. Institutional investors collectively own 97.48% of ELAN.
• Company insiders have been buying shares, including purchases by insider Shiv O’Neill and director Paul Herendeen. Insiders acquired 63,198 shares worth about $1.47 million over the past 90 days.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $29.09 target price. Elanco recently exceeded quarterly earnings and revenue expectations, reporting $0.34 EPS and $1.37 billion in revenue.

Wellington Management Group LLP decreased its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 11.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,676,050 shares of the company's stock after selling 359,806 shares during the period. Wellington Management Group LLP owned about 0.54% of Elanco Animal Health worth $65,858,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ELAN. Public Employees Retirement System of Ohio grew its stake in Elanco Animal Health by 113.0% in the second quarter. Public Employees Retirement System of Ohio now owns 330,645 shares of the company's stock worth $8,137,000 after purchasing an additional 175,412 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Elanco Animal Health during the 2nd quarter valued at $260,000. Corient Private Wealth LP purchased a new stake in shares of Elanco Animal Health in the 2nd quarter worth about $8,565,000. Park West Asset Management LLC bought a new position in shares of Elanco Animal Health in the 2nd quarter worth about $24,979,000. Finally, Bank of America Corp DE lifted its position in Elanco Animal Health by 16.4% during the 2nd quarter. Bank of America Corp DE now owns 3,909,871 shares of the company's stock valued at $96,222,000 after acquiring an additional 551,656 shares during the period. Hedge funds and other institutional investors own 97.48% of the company's stock.

Insider Buying and Selling

In other Elanco Animal Health news, insider Shiv O'neill purchased 3,998 shares of Elanco Animal Health stock in a transaction dated Tuesday, August 18th. The stock was purchased at an average price of $23.58 per share, with a total value of $94,272.84. Following the transaction, the insider directly owned 87,832 shares of the company's stock, valued at $2,071,078.56. This trade represents a 4.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Herendeen acquired 10,000 shares of the stock in a transaction dated Friday, August 7th. The stock was acquired at an average price of $23.68 per share, for a total transaction of $236,800.00. Following the purchase, the director directly owned 111,687 shares in the company, valued at approximately $2,644,748.16. This trade represents a 9.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 63,198 shares of company stock valued at $1,473,109 over the last ninety days. 1.14% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ELAN shares. KeyCorp upped their price objective on shares of Elanco Animal Health from $29.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Morgan Stanley boosted their target price on Elanco Animal Health from $23.00 to $26.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 22nd. Weiss Ratings downgraded Elanco Animal Health from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, August 20th. UBS Group upped their price target on shares of Elanco Animal Health from $31.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, TD Cowen raised their price objective on shares of Elanco Animal Health from $31.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $29.09.

Elanco Animal Health Price Performance

ELAN opened at $24.59 on Thursday. The company's 50-day simple moving average is $24.65 and its two-hundred day simple moving average is $23.98. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.10 and a current ratio of 2.05. The stock has a market capitalization of $12.29 billion, a P/E ratio of -59.98, a P/E/G ratio of 1.78 and a beta of 1.68. 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 released its quarterly earnings data on Wednesday, August 5th. The company reported $0.34 earnings per share for the quarter, beating 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 period in the previous year, the company earned $0.26 earnings per share. The firm'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. As a group, analysts predict that Elanco Animal Health Incorporated will post 1.12 EPS for the current year.

Elanco Animal Health Profile

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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