Principal Financial Group Inc. Sells 86,135 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Principal Financial Group Inc. lessened its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 61.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,408 shares of the company’s stock after selling 86,135 shares during the quarter. Principal Financial Group Inc.’s holdings in Elanco Animal Health were worth $771,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ELAN. Victory Capital Management Inc. lifted its position in shares of Elanco Animal Health by 22.2% during the 4th quarter. Victory Capital Management Inc. now owns 65,512 shares of the company’s stock worth $976,000 after buying an additional 11,910 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Elanco Animal Health during the fourth quarter worth about $913,000. ING Groep NV bought a new position in shares of Elanco Animal Health in the fourth quarter worth about $1,062,000. Norges Bank acquired a new stake in shares of Elanco Animal Health in the 4th quarter valued at approximately $62,510,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Elanco Animal Health in the 4th quarter valued at approximately $1,991,000. Institutional investors own 97.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays lowered their price objective on shares of Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Piper Sandler lowered their price target on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, July 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.57.

Insider Buying and Selling at Elanco Animal Health

In other news, Director Michael J. Harrington bought 3,500 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was acquired at an average price of $14.85 per share, with a total value of $51,975.00. Following the completion of the purchase, the director now directly owns 81,094 shares of the company’s stock, valued at $1,204,245.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Elanco Animal Health news, Director Michael J. Harrington bought 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were bought at an average price of $14.85 per share, for a total transaction of $51,975.00. Following the transaction, the director now directly owns 81,094 shares in the company, valued at $1,204,245.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey N. Simmons bought 100,000 shares of the stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the completion of the acquisition, the chief executive officer now owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. The disclosure for this purchase can be found here. Insiders own 0.57% of the company’s stock.

Elanco Animal Health Stock Performance

Shares of Elanco Animal Health stock opened at $14.47 on Friday. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of -5.46, a P/E/G ratio of 1.44 and a beta of 1.40. The company has a quick ratio of 1.75, a current ratio of 2.93 and a debt-to-equity ratio of 0.92. Elanco Animal Health Incorporated has a twelve month low of $8.52 and a twelve month high of $18.80. The company’s fifty day moving average is $13.87 and its 200 day moving average is $15.21.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the company posted $0.18 EPS. The business’s revenue was up 12.0% on a year-over-year basis. Sell-side analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Elanco Animal Health 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.