Truist Financial Corp Purchases 120,596 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Truist Financial Corp grew its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 173.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 190,284 shares of the company's stock after purchasing an additional 120,596 shares during the period. Truist Financial Corp's holdings in Elanco Animal Health were worth $2,304,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ELAN. AM Squared Ltd bought a new stake in shares of Elanco Animal Health during the 3rd quarter worth approximately $34,000. Wilmington Savings Fund Society FSB bought a new stake in Elanco Animal Health during the third quarter worth $35,000. Farther Finance Advisors LLC boosted its holdings in shares of Elanco Animal Health by 158.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company's stock valued at $49,000 after purchasing an additional 2,044 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Elanco Animal Health by 89.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company's stock valued at $50,000 after purchasing an additional 1,601 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Elanco Animal Health by 2,129.2% in the 3rd quarter. Blue Trust Inc. now owns 3,968 shares of the company's stock valued at $57,000 after purchasing an additional 3,790 shares during the last quarter. 97.48% of the stock is owned by institutional investors.

Elanco Animal Health Trading Up 1.8 %

NYSE:ELAN traded up $0.20 during mid-day trading on Friday, hitting $11.12. 2,943,134 shares of the company's stock were exchanged, compared to its average volume of 4,853,126. Elanco Animal Health Incorporated has a fifty-two week low of $10.20 and a fifty-two week high of $18.80. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $5.49 billion, a P/E ratio of 27.79, a PEG ratio of 2.50 and a beta of 1.42. The company has a 50 day simple moving average of $11.72 and a 200-day simple moving average of $13.05.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. Elanco Animal Health's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. As a group, research analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on ELAN shares. Stifel Nicolaus dropped their price objective on Elanco Animal Health from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Leerink Partners initiated coverage on shares of Elanco Animal Health in a research note on Monday, December 2nd. They issued a "market perform" rating and a $14.00 price target on the stock. Morgan Stanley lowered their price objective on shares of Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday. UBS Group cut their target price on shares of Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Barclays decreased their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $15.83.

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.