Elanco Animal Health Incorporated (NYSE:ELAN) Position Lessened by US Bancorp DE

US Bancorp DE decreased its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 42.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,032 shares of the company’s stock after selling 11,043 shares during the period. US Bancorp DE’s holdings in Elanco Animal Health were worth $221,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Elanco Animal Health by 337.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock valued at $26,000 after buying an additional 1,361 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Elanco Animal Health in the third quarter valued at approximately $29,000. ORG Partners LLC bought a new stake in Elanco Animal Health in the second quarter worth approximately $31,000. nVerses Capital LLC acquired a new position in shares of Elanco Animal Health during the 2nd quarter worth $32,000. Finally, Quarry LP bought a new position in shares of Elanco Animal Health during the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Trading Down 1.1 %

Shares of NYSE:ELAN opened at $14.04 on Friday. Elanco Animal Health Incorporated has a 52-week low of $11.20 and a 52-week high of $18.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. The company has a market cap of $6.94 billion, a P/E ratio of 35.10, a P/E/G ratio of 1.48 and a beta of 1.41. The stock’s 50-day moving average is $13.84 and its 200-day moving average is $14.75.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 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 $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $0.18 EPS. The company’s revenue was down 3.6% on a year-over-year basis. Equities research analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Activity at Elanco Animal Health

In other news, Director Michael J. Harrington bought 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were acquired at an average cost of $14.85 per share, with a total value of $51,975.00. Following the completion of the transaction, the director now directly owns 81,094 shares in the company, valued at $1,204,245.90. This represents a 4.51 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

ELAN has been the subject of a number of recent research reports. Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $17.00 to $15.00 in a report on Thursday, September 19th. Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price target on shares of Elanco Animal Health in a research note on Thursday, September 19th. Finally, Barclays increased their price objective on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Elanco Animal Health has a consensus rating of “Hold” and a consensus target price of $17.14.

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.