Wellington Management Group LLP Sells 14,157 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Wellington Management Group LLP cut its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 0.4% in the fourth quarter, Holdings Channel reports. The firm owned 3,993,648 shares of the company’s stock after selling 14,157 shares during the quarter. Wellington Management Group LLP’s holdings in Elanco Animal Health were worth $48,363,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ELAN. Hillsdale Investment Management Inc. grew its position in shares of Elanco Animal Health by 2.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company’s stock worth $524,000 after buying an additional 900 shares during the period. Arizona State Retirement System grew its holdings in Elanco Animal Health by 0.8% during the fourth quarter. Arizona State Retirement System now owns 143,462 shares of the company’s stock valued at $1,737,000 after purchasing an additional 1,166 shares during the period. MTM Investment Management LLC increased its stake in Elanco Animal Health by 9.3% in the fourth quarter. MTM Investment Management LLC now owns 14,168 shares of the company’s stock valued at $172,000 after purchasing an additional 1,200 shares in the last quarter. M&T Bank Corp raised its holdings in Elanco Animal Health by 5.9% in the third quarter. M&T Bank Corp now owns 26,407 shares of the company’s stock worth $388,000 after purchasing an additional 1,464 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Elanco Animal Health by 47.7% during the fourth quarter. Blue Trust Inc. now owns 5,862 shares of the company’s stock worth $71,000 after purchasing an additional 1,894 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ELAN. Morgan Stanley lowered their price objective on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. UBS Group dropped their price target on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler decreased their price objective on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Barclays dropped their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Stifel Nicolaus reduced their price target on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.17.

Insider Transactions at Elanco Animal Health

In related news, Director Lawrence Erik Kurzius acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $10.20 per share, for a total transaction of $102,000.00. Following the purchase, the director now directly owns 111,459 shares in the company, valued at approximately $1,136,881.80. This trade represents a 9.86 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.57% of the company’s stock.

Elanco Animal Health Trading Down 5.7 %

NYSE ELAN opened at $9.17 on Friday. Elanco Animal Health Incorporated has a 52 week low of $8.80 and a 52 week high of $18.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. The stock’s 50 day moving average price is $11.04 and its two-hundred day moving average price is $12.28. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $0.08 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal 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.