Truist Financial Corp trimmed its holdings in Elanco Animal Health Incorporated (NYSE:ELAN – Free Report) by 16.0% in the fourth quarter, HoldingsChannel reports. The fund owned 45,385 shares of the company’s stock after selling 8,668 shares during the period. Truist Financial Corp’s holdings in Elanco Animal Health were worth $676,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in ELAN. Raymond James Financial Services Advisors Inc. boosted its position in Elanco Animal Health by 76.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 206,210 shares of the company’s stock valued at $2,318,000 after buying an additional 89,576 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Elanco Animal Health by 7.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,848,934 shares of the company’s stock valued at $20,782,000 after acquiring an additional 124,225 shares during the last quarter. TD Asset Management Inc grew its position in Elanco Animal Health by 23.9% during the 3rd quarter. TD Asset Management Inc now owns 275,319 shares of the company’s stock worth $3,095,000 after acquiring an additional 53,129 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Elanco Animal Health by 836.1% in the 3rd quarter. Panagora Asset Management Inc. now owns 411,725 shares of the company’s stock worth $4,628,000 after purchasing an additional 367,741 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in Elanco Animal Health by 122.8% in the third quarter. Teacher Retirement System of Texas now owns 137,701 shares of the company’s stock valued at $1,548,000 after purchasing an additional 75,889 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.
Insider Buying and Selling
In other Elanco Animal Health news, Director R David Hoover acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $16.14 per share, with a total value of $322,800.00. Following the completion of the purchase, the director now directly owns 185,000 shares of the company’s stock, valued at approximately $2,985,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on ELAN. Piper Sandler restated a “neutral” rating and issued a $19.00 target price (up previously from $18.00) on shares of Elanco Animal Health in a report on Monday. The Goldman Sachs Group upped their price objective on shares of Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a research note on Tuesday, February 27th. Morgan Stanley raised their target price on Elanco Animal Health from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Barclays upped their price target on Elanco Animal Health from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Finally, TheStreet upgraded Elanco Animal Health from a “d+” rating to a “c-” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Elanco Animal Health presently has a consensus rating of “Moderate Buy” and an average target price of $18.29.
Read Our Latest Analysis on Elanco Animal Health
Elanco Animal Health Stock Performance
Elanco Animal Health stock opened at $17.04 on Thursday. Elanco Animal Health Incorporated has a fifty-two week low of $7.88 and a fifty-two week high of $17.43. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of -6.43, a PEG ratio of 1.76 and a beta of 1.34. The stock’s 50 day simple moving average is $15.08 and its two-hundred day simple moving average is $14.32. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.96 and a current ratio of 3.29.
Elanco Animal Health (NYSE:ELAN – Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.08. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 earnings per share. As a group, analysts expect that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current fiscal year.
Elanco Animal Health Company Profile
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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