US Bancorp DE reduced its holdings in Elanco Animal Health Incorporated (NYSE:ELAN – Get Rating) by 33.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,322 shares of the company's stock after selling 7,116 shares during the quarter. US Bancorp DE's holdings in Elanco Animal Health were worth $178,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Venture Visionary Partners LLC acquired a new position in shares of Elanco Animal Health in the 2nd quarter worth approximately $45,000. Fifth Third Bancorp lifted its holdings in Elanco Animal Health by 139.6% during the 2nd quarter. Fifth Third Bancorp now owns 2,396 shares of the company's stock worth $47,000 after buying an additional 1,396 shares in the last quarter. CKW Financial Group lifted its holdings in Elanco Animal Health by 60.0% during the 2nd quarter. CKW Financial Group now owns 2,400 shares of the company's stock worth $49,000 after buying an additional 900 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Elanco Animal Health by 57.0% during the 1st quarter. Captrust Financial Advisors now owns 2,690 shares of the company's stock worth $70,000 after buying an additional 977 shares in the last quarter. Finally, Eagle Bay Advisors LLC lifted its holdings in Elanco Animal Health by 4,040.0% during the 2nd quarter. Eagle Bay Advisors LLC now owns 2,691 shares of the company's stock worth $53,000 after buying an additional 2,626 shares in the last quarter.

Analysts Set New Price Targets

ELAN has been the topic of several research reports. JPMorgan Chase & Co. reduced their price objective on 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. Piper Sandler dropped their target price on shares of Elanco Animal Health from $21.00 to $15.00 and set a "neutral" rating for the company in a research report on Monday, November 14th. The Goldman Sachs Group dropped their target price on shares of Elanco Animal Health from $19.00 to $12.00 and set a "sell" rating for the company in a research report on Wednesday, November 9th. Finally, TheStreet cut shares of Elanco Animal Health from a "c-" rating to a "d+" rating in a research report on Tuesday, October 4th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, Elanco Animal Health currently has an average rating of "Hold" and a consensus target price of $17.83.

Elanco Animal Health Price Performance

Elanco Animal Health (NYSE:ELAN – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.20 EPS 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 business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.03 billion. On average, research analysts expect that Elanco Animal Health Incorporated will post 1.04 EPS for the current year.

Insiders Place Their Bets

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

Elanco Animal Health 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.

Further Reading

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