Truist Financial Corp Raises Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Truist Financial Corp boosted its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 173.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 190,284 shares of the company’s stock after buying an additional 120,596 shares during the quarter. Truist Financial Corp’s holdings in Elanco Animal Health were worth $2,304,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ELAN. AM Squared Ltd acquired a new stake in shares of Elanco Animal Health during the third quarter valued at about $34,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Elanco Animal Health during the third quarter valued at about $35,000. Farther Finance Advisors LLC increased its position in shares of Elanco Animal Health by 158.7% during the third quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company’s stock valued at $49,000 after acquiring an additional 2,044 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Elanco Animal Health by 89.9% during the third quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company’s stock valued at $50,000 after acquiring an additional 1,601 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Elanco Animal Health by 2,129.2% during the third quarter. Blue Trust Inc. now owns 3,968 shares of the company’s stock valued at $57,000 after acquiring an additional 3,790 shares during the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ELAN has been the subject of a number of research reports. Stifel Nicolaus dropped their price objective 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. Barclays dropped their price objective on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday. UBS Group dropped their price objective on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday. Leerink Partners initiated coverage on shares of Elanco Animal Health in a report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price objective for the company. Finally, Morgan Stanley dropped 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 report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.57.

Elanco Animal Health Stock Up 4.2 %

Shares of Elanco Animal Health stock opened at $11.15 on Thursday. Elanco Animal Health Incorporated has a 52-week low of $10.20 and a 52-week high of $18.80. The company has a 50 day moving average of $11.74 and a 200 day moving average of $13.06. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $5.51 billion, a P/E ratio of 27.88, a P/E/G ratio of 2.50 and a beta of 1.42.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share (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 firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the firm earned $0.08 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. As a group, research analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Elanco Animal Health 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.