M&T Bank Corp Sells 1,445 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

M&T Bank Corp trimmed its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 5.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,058 shares of the company’s stock after selling 1,445 shares during the quarter. M&T Bank Corp’s holdings in Elanco Animal Health were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC acquired a new stake in Elanco Animal Health in the 4th quarter valued at about $29,000. NBC Securities Inc. bought a new stake in shares of Elanco Animal Health during the first quarter valued at approximately $40,000. Parallel Advisors LLC increased its holdings in shares of Elanco Animal Health by 92.2% in the first quarter. Parallel Advisors LLC now owns 3,860 shares of the company’s stock valued at $41,000 after purchasing an additional 1,852 shares in the last quarter. Versant Capital Management Inc raised its position in Elanco Animal Health by 65.9% in the 1st quarter. Versant Capital Management Inc now owns 4,382 shares of the company’s stock worth $46,000 after purchasing an additional 1,740 shares during the last quarter. Finally, Wealthquest Corp acquired a new position in Elanco Animal Health during the 1st quarter worth $56,000. 97.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on ELAN shares. Wall Street Zen upgraded shares of Elanco Animal Health from a “hold” rating to a “buy” rating in a research report on Saturday, July 5th. Leerink Partnrs upgraded shares of Elanco Animal Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday. William Blair raised Elanco Animal Health from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 26th. Leerink Partners raised Elanco Animal Health from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a research note on Thursday. Finally, Stifel Nicolaus upped their price objective on Elanco Animal Health from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Elanco Animal Health Price Performance

NYSE ELAN opened at $14.78 on Friday. The firm’s 50 day moving average is $13.82 and its 200-day moving average is $11.79. The company has a quick ratio of 1.46, a current ratio of 2.71 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $7.34 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 2.92 and a beta of 1.67. Elanco Animal Health Incorporated has a 12-month low of $8.02 and a 12-month high of $15.78.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Wednesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. Elanco Animal Health had a return on equity of 7.54% and a net margin of 8.43%. Elanco Animal Health’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 earnings per share. Equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Elanco Animal Health Company 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.