Truist Financial Corp Has $969,000 Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Truist Financial Corp decreased its position in Elanco Animal Health Incorporated (NYSE:ELANGet Rating) by 63.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,089 shares of the company’s stock after selling 132,878 shares during the period. Truist Financial Corp’s holdings in Elanco Animal Health were worth $969,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Balentine LLC bought a new stake in Elanco Animal Health in the third quarter valued at $256,000. Miracle Mile Advisors LLC bought a new stake in Elanco Animal Health in the third quarter valued at $296,000. NuWave Investment Management LLC increased its stake in Elanco Animal Health by 263.0% in the third quarter. NuWave Investment Management LLC now owns 47,784 shares of the company’s stock valued at $593,000 after purchasing an additional 34,620 shares in the last quarter. Nordea Investment Management AB increased its stake in Elanco Animal Health by 10.5% in the third quarter. Nordea Investment Management AB now owns 26,911 shares of the company’s stock valued at $341,000 after purchasing an additional 2,548 shares in the last quarter. Finally, Hedges Asset Management LLC increased its stake in Elanco Animal Health by 130.5% in the third quarter. Hedges Asset Management LLC now owns 65,000 shares of the company’s stock valued at $807,000 after purchasing an additional 36,800 shares in the last quarter.

Elanco Animal Health Stock Up 1.9 %

Elanco Animal Health stock opened at $13.18 on Friday. Elanco Animal Health Incorporated has a fifty-two week low of $11.18 and a fifty-two week high of $29.66. The stock has a market cap of $6.25 billion, a PE ratio of -54.91, a price-to-earnings-growth ratio of 6.56 and a beta of 0.90. The firm’s 50-day simple moving average is $12.48 and its 200 day simple moving average is $14.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.12 and a current ratio of 1.96.

Elanco Animal Health (NYSE:ELANGet Rating) last released its earnings results on Tuesday, November 8th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Elanco Animal Health had a negative net margin of 2.64% and a positive return on equity of 7.65%. Research analysts predict that Elanco Animal Health Incorporated will post 1.04 EPS for the current fiscal year.

Analyst Ratings Changes

ELAN has been the subject of several recent research reports. TheStreet downgraded shares of Elanco Animal Health from a “c-” rating to a “d+” rating in a research report on Tuesday, October 4th. The Goldman Sachs Group decreased their target price on shares of Elanco Animal Health from $19.00 to $12.00 and set a “sell” rating for the company in a research report on Wednesday, November 9th. Piper Sandler decreased their target price on shares of Elanco Animal Health from $21.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, November 14th. William Blair reissued a “market perform” rating on shares of Elanco Animal Health in a research report on Tuesday, November 8th. Finally, Morgan Stanley cut their price target on shares of Elanco Animal Health from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 15th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.83.

Insider Buying and Selling at Elanco Animal Health

In related news, Director John P. Bilbrey bought 7,500 shares of the company’s stock in a transaction on Friday, November 11th. The shares were purchased at an average cost of $13.24 per share, for a total transaction of $99,300.00. Following the completion of the purchase, the director now directly owns 41,722 shares in the company, valued at $552,399.28. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 6.40% of the company’s stock.

About Elanco Animal Health

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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.

Further Reading

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

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