Wellington Management Group LLP Sells 535,335 Shares of Elanco Animal Health (NYSE:ELAN)

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Wellington Management Group LLP cut its position in Elanco Animal Health (NYSE:ELAN) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,396,980 shares of the company’s stock after selling 535,335 shares during the quarter. Wellington Management Group LLP owned 7.62% of Elanco Animal Health worth $680,587,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Rockefeller Capital Management L.P. raised its position in shares of Elanco Animal Health by 6.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 8,443 shares of the company’s stock worth $249,000 after acquiring an additional 486 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Elanco Animal Health by 47.0% during the first quarter. First Horizon Advisors Inc. now owns 1,580 shares of the company’s stock worth $35,000 after acquiring an additional 505 shares during the last quarter. First Hawaiian Bank raised its position in shares of Elanco Animal Health by 5.4% during the first quarter. First Hawaiian Bank now owns 10,750 shares of the company’s stock worth $241,000 after acquiring an additional 548 shares during the last quarter. Ropes Wealth Advisors LLC raised its position in shares of Elanco Animal Health by 64.6% during the first quarter. Ropes Wealth Advisors LLC now owns 1,419 shares of the company’s stock worth $32,000 after acquiring an additional 557 shares during the last quarter. Finally, Citizens Financial Group Inc RI raised its position in shares of Elanco Animal Health by 62.5% during the fourth quarter. Citizens Financial Group Inc RI now owns 1,519 shares of the company’s stock worth $45,000 after acquiring an additional 584 shares during the last quarter.

A number of brokerages have weighed in on ELAN. ValuEngine downgraded Elanco Animal Health from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Citigroup lowered their target price on Elanco Animal Health from $35.00 to $27.00 and set a “buy” rating for the company in a report on Friday, May 15th. Barclays reiterated a “buy” rating and issued a $25.00 target price on shares of Elanco Animal Health in a report on Wednesday, May 13th. Zacks Investment Research downgraded Elanco Animal Health from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Elanco Animal Health in a report on Wednesday, March 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Elanco Animal Health has an average rating of “Hold” and a consensus target price of $30.67.

Elanco Animal Health stock traded down $1.40 during mid-day trading on Thursday, reaching $21.68. The stock had a trading volume of 103,644 shares, compared to its average volume of 5,710,049. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.97 and a current ratio of 4.41. Elanco Animal Health has a fifty-two week low of $15.17 and a fifty-two week high of $35.46. The stock’s 50-day simple moving average is $21.81 and its 200-day simple moving average is $25.78. The firm has a market capitalization of $8.91 billion, a PE ratio of -1,117.00, a price-to-earnings-growth ratio of 2.74 and a beta of 0.87.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.11). The firm had revenue of $657.70 million during the quarter, compared to analyst estimates of $720.19 million. Elanco Animal Health had a negative net margin of 0.42% and a positive return on equity of 6.10%. The company’s revenue was down 10.0% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. On average, research analysts forecast that Elanco Animal Health will post 0.67 earnings per share for the current fiscal year.

About Elanco Animal Health

Elanco Animal Health Incorporated, an animal health company, develops, manufactures, and markets products for companion and food animals. The company offers companion animal disease prevention products, such as parasiticide products that protect pets from worms, fleas, and ticks; companion animal therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications; vaccines, nutritional enzymes, and animal-only antibiotics; and a range of food animal products used in ruminant and swine production.

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Institutional Ownership by Quarter for Elanco Animal Health (NYSE:ELAN)

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