M&T Bank Corp Sells 1,445 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

M&T Bank Corp trimmed its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 5.7% during the first quarter, Holdings Channel.com reports. The fund owned 24,058 shares of the company’s stock after selling 1,445 shares during the quarter. M&T Bank Corp’s holdings in Elanco Animal Health were worth $253,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CoreCap Advisors LLC acquired a new stake in shares of Elanco Animal Health during the 4th quarter worth $29,000. NBC Securities Inc. bought a new stake in Elanco Animal Health during the first quarter worth about $40,000. Parallel Advisors LLC grew its stake in Elanco Animal Health by 92.2% during the first quarter. Parallel Advisors LLC now owns 3,860 shares of the company’s stock worth $41,000 after buying an additional 1,852 shares in the last quarter. Versant Capital Management Inc increased its holdings in Elanco Animal Health by 65.9% in the 1st quarter. Versant Capital Management Inc now owns 4,382 shares of the company’s stock valued at $46,000 after buying an additional 1,740 shares during the period. Finally, Wealthquest Corp acquired a new position in shares of Elanco Animal Health in the 1st quarter valued at approximately $56,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on ELAN shares. William Blair upgraded shares of Elanco Animal Health from a “market perform” rating to an “outperform” rating in a research report on Thursday, June 26th. Wall Street Zen upgraded Elanco Animal Health from a “hold” rating to a “buy” rating in a research note on Saturday, July 5th. Leerink Partners upgraded Elanco Animal Health from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a research report on Thursday. Stifel Nicolaus lifted their target price on Elanco Animal Health from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Finally, Leerink Partnrs raised Elanco Animal Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Elanco Animal Health Price Performance

Shares of ELAN opened at $14.78 on Friday. The company has a quick ratio of 1.46, a current ratio of 2.71 and a debt-to-equity ratio of 0.68. The stock has a market cap of $7.34 billion, a PE ratio of 19.97, a PEG ratio of 2.92 and a beta of 1.67. Elanco Animal Health Incorporated has a 12-month low of $8.02 and a 12-month high of $15.78. The business has a 50-day simple moving average of $13.82 and a two-hundred day simple moving average of $11.79.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. Elanco Animal Health had a return on equity of 7.54% and a net margin of 8.43%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 earnings per share. 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.