Truist Financial Corp Has $909,000 Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Truist Financial Corp grew its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 47.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 62,964 shares of the company’s stock after purchasing an additional 20,341 shares during the period. Truist Financial Corp’s holdings in Elanco Animal Health were worth $909,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Hunter Associates Investment Management LLC grew its position in shares of Elanco Animal Health by 5.1% during the 1st quarter. Hunter Associates Investment Management LLC now owns 16,600 shares of the company’s stock worth $269,000 after buying an additional 800 shares during the period. 180 Wealth Advisors LLC grew its holdings in shares of Elanco Animal Health by 3.6% during the second quarter. 180 Wealth Advisors LLC now owns 25,716 shares of the company’s stock worth $352,000 after buying an additional 893 shares in the last quarter. HBK Sorce Advisory LLC raised its position in Elanco Animal Health by 9.4% in the 2nd quarter. HBK Sorce Advisory LLC now owns 12,920 shares of the company’s stock valued at $186,000 after buying an additional 1,107 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in Elanco Animal Health by 11.1% in the 2nd quarter. Atomi Financial Group Inc. now owns 12,260 shares of the company’s stock valued at $177,000 after acquiring an additional 1,221 shares in the last quarter. Finally, Resonant Capital Advisors LLC boosted its holdings in Elanco Animal Health by 5.0% during the second quarter. Resonant Capital Advisors LLC now owns 27,325 shares of the company’s stock worth $394,000 after purchasing an additional 1,306 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ELAN. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price target on shares of Elanco Animal Health in a research report on Thursday, September 19th. Morgan Stanley cut Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Barclays lifted their price objective on shares of Elanco Animal Health from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Piper Sandler dropped their price objective on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.43.

Insider Buying and Selling at Elanco Animal Health

In other news, CEO Jeffrey N. Simmons bought 100,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the purchase, the chief executive officer now owns 145,000 shares in the company, valued at approximately $1,886,450. The trade was a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jeffrey N. Simmons acquired 100,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the completion of the purchase, the chief executive officer now directly owns 145,000 shares in the company, valued at approximately $1,886,450. This trade represents a 200.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average price of $14.85 per share, with a total value of $51,975.00. Following the acquisition, the director now directly owns 81,094 shares of the company’s stock, valued at $1,204,245.90. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.57% of the stock is owned by company insiders.

Elanco Animal Health Trading Down 0.1 %

Shares of Elanco Animal Health stock opened at $14.36 on Tuesday. The stock has a market capitalization of $7.10 billion, a P/E ratio of -5.42, a P/E/G ratio of 1.53 and a beta of 1.40. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93. The stock’s 50-day simple moving average is $14.43 and its 200 day simple moving average is $14.96. Elanco Animal Health Incorporated has a 52-week low of $8.52 and a 52-week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 earnings per share. As a group, research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS for the current 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.