Principal Financial Group Inc. Sells 21,919 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Principal Financial Group Inc. lessened its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 41.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 31,489 shares of the company’s stock after selling 21,919 shares during the period. Principal Financial Group Inc.’s holdings in Elanco Animal Health were worth $463,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Davidson Kempner Capital Management LP bought a new position in Elanco Animal Health during the second quarter valued at $839,000. Price T Rowe Associates Inc. MD grew its stake in shares of Elanco Animal Health by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock valued at $360,425,000 after buying an additional 852,281 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Elanco Animal Health in the second quarter worth approximately $55,599,000. XTX Topco Ltd purchased a new stake in shares of Elanco Animal Health in the second quarter worth approximately $935,000. Finally, SG Capital Management LLC bought a new stake in shares of Elanco Animal Health during the 1st quarter worth approximately $4,211,000. 97.48% of the stock is currently owned by institutional investors.

Elanco Animal Health Trading Down 0.3 %

NYSE ELAN opened at $13.36 on Monday. The company’s 50-day simple moving average is $13.70 and its two-hundred day simple moving average is $14.75. Elanco Animal Health Incorporated has a one year low of $11.40 and a one year high of $18.80. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 1.40 and a beta of 1.41. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. Elanco Animal Health’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Equities analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on ELAN. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 target price on shares of Elanco Animal Health in a research note on Thursday, September 19th. Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $17.00 to $15.00 in a research report on Thursday, September 19th. Finally, Barclays lifted their price target on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently 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.