Allspring Global Investments Holdings LLC Sells 2,322 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Allspring Global Investments Holdings LLC lowered its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 19.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,801 shares of the company’s stock after selling 2,322 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Elanco Animal Health were worth $160,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in Elanco Animal Health by 55.0% during the 1st quarter. Principal Financial Group Inc. now owns 139,543 shares of the company’s stock valued at $2,272,000 after buying an additional 49,497 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its position in Elanco Animal Health by 8.5% during the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 36,528 shares of the company’s stock valued at $595,000 after buying an additional 2,871 shares in the last quarter. Bfsg LLC increased its position in Elanco Animal Health by 8.2% during the 1st quarter. Bfsg LLC now owns 14,885 shares of the company’s stock valued at $242,000 after buying an additional 1,125 shares in the last quarter. Wesbanco Bank Inc. bought a new position in Elanco Animal Health during the 1st quarter valued at approximately $2,437,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in Elanco Animal Health by 5.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 267,907 shares of the company’s stock valued at $4,362,000 after buying an additional 13,218 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Performance

Shares of ELAN opened at $13.67 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.29 and a quick ratio of 1.96. Elanco Animal Health Incorporated has a one year low of $8.52 and a one year high of $18.80. The firm has a market capitalization of $6.76 billion, a P/E ratio of -5.16, a PEG ratio of 1.35 and a beta of 1.42. The business has a fifty day moving average of $16.54 and a 200 day moving average of $15.68.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.26 by $0.08. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. Elanco Animal Health’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. As a group, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays reduced their price objective on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Piper Sandler reduced their target price on Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, July 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Elanco Animal Health has an average rating of “Moderate Buy” and a consensus price target of $17.57.

Insider Activity

In other Elanco Animal Health news, Director William F. Doyle acquired 15,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average cost of $16.98 per share, for a total transaction of $254,700.00. Following the completion of the transaction, the director now directly owns 76,330 shares of the company’s stock, valued at $1,296,083.40. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.57% of the company’s stock.

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.