PNC Financial Services Group Inc. Buys 7,890 Shares of Elanco Animal Health (NYSE:ELAN)

PNC Financial Services Group Inc. boosted its stake in shares of Elanco Animal Health (NYSE:ELAN) by 18.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,550 shares of the company’s stock after acquiring an additional 7,890 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Elanco Animal Health were worth $1,133,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. grew its holdings in Elanco Animal Health by 49.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 16,315,711 shares of the company’s stock worth $480,499,000 after acquiring an additional 5,364,089 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Elanco Animal Health by 72.3% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 83,500 shares of the company’s stock valued at $2,459,000 after purchasing an additional 35,029 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Elanco Animal Health by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 3,792,357 shares of the company’s stock valued at $111,578,000 after purchasing an additional 152,177 shares during the last quarter. Norges Bank bought a new position in shares of Elanco Animal Health in the 4th quarter valued at about $116,826,000. Finally, Raymond James & Associates boosted its stake in shares of Elanco Animal Health by 52.3% in the 1st quarter. Raymond James & Associates now owns 568,994 shares of the company’s stock valued at $12,740,000 after purchasing an additional 195,428 shares during the last quarter.

Elanco Animal Health stock opened at $21.38 on Friday. The company’s 50 day simple moving average is $22.12 and its 200 day simple moving average is $26.02. Elanco Animal Health has a fifty-two week low of $15.17 and a fifty-two week high of $35.46. The firm has a market capitalization of $8.43 billion, a price-to-earnings ratio of -1,069.00, a PEG ratio of 2.23 and a beta of 0.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.41 and a quick ratio of 2.97.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.11). Elanco Animal Health had a positive return on equity of 6.10% and a negative net margin of 0.42%. The firm had revenue of $657.70 million for the quarter, compared to the consensus estimate of $720.19 million. During the same period in the previous year, the business earned $0.25 EPS. The firm’s revenue was down 10.0% compared to the same quarter last year. As a group, analysts predict that Elanco Animal Health will post 0.74 EPS for the current fiscal year.

Several brokerages have recently issued reports on ELAN. ValuEngine lowered shares of Elanco Animal Health from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Credit Suisse Group reaffirmed a “buy” rating on shares of Elanco Animal Health in a research note on Wednesday, March 25th. Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 2nd. Barclays reaffirmed a “buy” rating and issued a $25.00 target price on shares of Elanco Animal Health in a research note on Wednesday, May 13th. Finally, Citigroup reduced their target price on shares of Elanco Animal Health from $35.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $30.67.

In related news, Director Michael J. Harrington bought 4,000 shares of the company’s stock in a transaction on Monday, March 9th. The shares were purchased at an average cost of $23.84 per share, for a total transaction of $95,360.00. Following the acquisition, the director now owns 16,799 shares of the company’s stock, valued at approximately $400,488.16. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director R David Hoover bought 3,900 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were bought at an average price of $27.40 per share, for a total transaction of $106,860.00. Following the completion of the acquisition, the director now directly owns 21,075 shares in the company, valued at approximately $577,455. The disclosure for this purchase can be found here. Insiders have acquired a total of 10,900 shares of company stock worth $277,670 over the last 90 days. Corporate insiders own 0.12% of the company’s stock.

Elanco Animal Health Company Profile

Elanco Animal Health Incorporated, an animal health company, develops, manufactures, and markets products for companion and food animals. The company offers companion animal disease prevention products, such as parasiticide products that protect pets from worms, fleas, and ticks; companion animal therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications; vaccines, nutritional enzymes, and animal-only antibiotics; and a range of food animal products used in ruminant and swine production.

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