Royal Bank of Canada Sells 930,534 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Posted by Defense World Staff on Mar 7th, 2023

Royal Bank of Canada reduced its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN – Get Rating) by 42.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,284,009 shares of the company’s stock after selling 930,534 shares during the quarter. Royal Bank of Canada owned 0.27% of Elanco Animal Health worth $15,934,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp grew its stake in shares of Elanco Animal Health by 139.6% in the second quarter. Fifth Third Bancorp now owns 2,396 shares of the company’s stock worth $47,000 after acquiring an additional 1,396 shares during the period. Captrust Financial Advisors grew its stake in shares of Elanco Animal Health by 57.0% in the first quarter. Captrust Financial Advisors now owns 2,690 shares of the company’s stock worth $70,000 after acquiring an additional 977 shares during the period. Eagle Bay Advisors LLC grew its position in 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 valued at $53,000 after buying an additional 2,626 shares during the period. Covestor Ltd grew its position in Elanco Animal Health by 1,285.1% during the first quarter. Covestor Ltd now owns 2,978 shares of the company’s stock valued at $78,000 after buying an additional 2,763 shares during the period. Finally, Signaturefd LLC grew its position in Elanco Animal Health by 97.4% during the third quarter. Signaturefd LLC now owns 3,306 shares of the company’s stock valued at $41,000 after buying an additional 1,631 shares during the period.

Elanco Animal Health Price Performance

ELAN stock opened at $10.84 on Tuesday. Elanco Animal Health Incorporated has a one year low of $10.76 and a one year high of $27.69. The company’s fifty day moving average price is $12.76 and its 200-day moving average price is $13.07. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.02 and a current ratio of 1.93. The company has a market capitalization of $5.33 billion, a PE ratio of -72.26, a price-to-earnings-growth ratio of 7.59 and a beta of 0.95.

Elanco Animal Health (NYSE:ELAN – Get Rating) last released its earnings results on Tuesday, February 21st. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. Elanco Animal Health had a negative net margin of 1.74% and a positive return on equity of 7.57%. The firm had revenue of $988.00 million for the quarter, compared to the consensus estimate of $980.94 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The company’s quarterly revenue was down 11.2% compared to the same quarter last year. On average, equities analysts anticipate that Elanco Animal Health Incorporated will post 0.77 EPS for the current fiscal year.

Analyst Ratings Changes

ELAN has been the subject of several recent research reports. Piper Sandler cut their target price on shares of Elanco Animal Health from $15.00 to $12.00 in a research report on Thursday, March 2nd. William Blair restated a “market perform” rating on shares of Elanco Animal Health in a research report on Tuesday, November 8th. The Goldman Sachs Group cut 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. Barclays cut their target price on shares of Elanco Animal Health from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 22nd. Finally, Morgan Stanley lowered their price target on shares of Elanco Animal Health from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, January 30th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, Elanco Animal Health presently has a consensus rating of “Hold” and a consensus price target of $16.50.

Elanco Animal Health Profile

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Elanco Animal Health, Inc innovates, develops, manufactures, and markets products for pets and farm animals. It offers products through the following four categories: Companion Animal Disease Prevention, Companion Animal Therapeutics, Food Animal Future Protein & Health, and Food Animal Ruminants & Swine.