Truist Financial Corp reduced its stake in Elanco Animal Health Incorporated (NYSE:ELAN – Get Rating) by 13.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 266,467 shares of the company’s stock after selling 42,706 shares during the period. Truist Financial Corp’s holdings in Elanco Animal Health were worth $6,952,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. CKW Financial Group purchased a new position in shares of Elanco Animal Health during the fourth quarter valued at approximately $30,000. Benjamin Edwards Inc. increased its stake in shares of Elanco Animal Health by 157.1% during the fourth quarter. Benjamin Edwards Inc. now owns 1,427 shares of the company’s stock valued at $40,000 after buying an additional 872 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Elanco Animal Health during the fourth quarter valued at approximately $46,000. Spire Wealth Management increased its stake in shares of Elanco Animal Health by 239.9% during the fourth quarter. Spire Wealth Management now owns 2,162 shares of the company’s stock valued at $61,000 after buying an additional 1,526 shares during the period. Finally, UMB Bank N A MO purchased a new position in shares of Elanco Animal Health during the fourth quarter valued at approximately $110,000.
In other Elanco Animal Health news, Director R David Hoover acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 20th. The stock was purchased at an average price of $23.33 per share, with a total value of $233,300.00. Following the completion of the purchase, the director now directly owns 125,000 shares in the company, valued at approximately $2,916,250. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.40% of the company’s stock.
ELAN has been the topic of several research reports. Stifel Nicolaus dropped their price target on Elanco Animal Health from $30.00 to $22.00 and set a “hold” rating on the stock in a research report on Friday, June 24th. The Goldman Sachs Group dropped their target price on Elanco Animal Health from $37.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. Piper Sandler began coverage on Elanco Animal Health in a report on Monday. They issued a “neutral” rating and a $22.00 target price on the stock. Finally, Morgan Stanley decreased their price target on Elanco Animal Health to $37.00 and set an “overweight” rating for the company in a research note on Tuesday, May 17th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.50.
Shares of ELAN opened at $19.70 on Thursday. The company has a quick ratio of 1.41, a current ratio of 2.44 and a debt-to-equity ratio of 0.80. The business has a 50-day simple moving average of $22.01 and a two-hundred day simple moving average of $24.97. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of -26.62, a PEG ratio of 1.00 and a beta of 0.81. Elanco Animal Health Incorporated has a 52 week low of $19.34 and a 52 week high of $37.49.
Elanco Animal Health (NYSE:ELAN – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Elanco Animal Health had a positive return on equity of 6.61% and a negative net margin of 7.65%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 earnings per share. On average, equities analysts anticipate that Elanco Animal Health Incorporated will post 1.17 earnings per share for the current fiscal year.
Elanco Animal Health Profile (Get Rating)
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.
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