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

Truist Financial Corp reduced its position in Elanco Animal Health Incorporated (NYSE:ELAN – Get Rating) by 63.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Venture Visionary Partners LLC bought a new position in Elanco Animal Health in the 2nd quarter valued at about $45,000. Fifth Third Bancorp increased its holdings in shares of Elanco Animal Health by 139.6% during the second quarter. Fifth Third Bancorp now owns 2,396 shares of the company’s stock worth $47,000 after purchasing an additional 1,396 shares during the period. CKW Financial Group increased its holdings in shares of Elanco Animal Health by 60.0% during the second quarter. CKW Financial Group now owns 2,400 shares of the company’s stock worth $49,000 after purchasing an additional 900 shares during the period. Eagle Bay Advisors LLC increased its holdings in shares of Elanco Animal Health by 4,040.0% during the second quarter. Eagle Bay Advisors LLC now owns 2,691 shares of the company’s stock worth $53,000 after purchasing an additional 2,626 shares during the period. Finally, Captrust Financial Advisors increased its holdings in shares of Elanco Animal Health by 57.0% during the first quarter. Captrust Financial Advisors now owns 2,690 shares of the company’s stock worth $70,000 after purchasing an additional 977 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ELAN shares. JPMorgan Chase & Co. lowered their target price on shares of Elanco Animal Health from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, October 17th. William Blair reaffirmed a “market perform” rating on shares of Elanco Animal Health in a report on Tuesday, November 8th. The Goldman Sachs Group lowered their target price on shares of Elanco Animal Health from $19.00 to $12.00 and set a “sell” rating on the stock in a report on Wednesday, November 9th. TheStreet cut shares of Elanco Animal Health from a “c-” rating to a “d+” rating in a research note on Tuesday, October 4th. Finally, Piper Sandler decreased their price objective on shares of Elanco Animal Health from $21.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, November 14th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.83.

Elanco Animal Health Stock Performance

Shares of NYSE:ELAN opened at $13.18 on Friday. The company’s 50 day simple moving average is $12.48 and its 200 day simple moving average is $14.69. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of -54.91, a price-to-earnings-growth ratio of 6.56 and a beta of 0.90. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.96 and a quick ratio of 1.12. Elanco Animal Health Incorporated has a 1 year low of $11.18 and a 1 year high of $29.66.

Elanco Animal Health (NYSE:ELAN – Get Rating) last issued 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. Elanco Animal Health had a negative net margin of 2.64% and a positive return on equity of 7.65%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. As a group, research analysts predict that Elanco Animal Health Incorporated will post 1.04 EPS for the current fiscal year.

Insider Buying and Selling at Elanco Animal Health

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

Elanco Animal Health Company Profile

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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.