Principal Financial Group Inc. Purchases 49,497 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Principal Financial Group Inc. boosted its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 55.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,543 shares of the company’s stock after buying an additional 49,497 shares during the period. Principal Financial Group Inc.’s holdings in Elanco Animal Health were worth $2,272,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Primecap Management Co. CA raised its holdings in shares of Elanco Animal Health by 2.9% during the 4th quarter. Primecap Management Co. CA now owns 50,600,324 shares of the company’s stock worth $753,945,000 after acquiring an additional 1,431,665 shares in the last quarter. Vanguard Group Inc. grew its position in Elanco Animal Health by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock worth $737,083,000 after acquiring an additional 467,196 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Elanco Animal Health by 33.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,095,179 shares of the company’s stock valued at $224,920,000 after purchasing an additional 3,816,514 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Elanco Animal Health by 12.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 5,625,707 shares of the company’s stock valued at $83,823,000 after purchasing an additional 622,696 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Elanco Animal Health by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,732,872 shares of the company’s stock worth $70,520,000 after purchasing an additional 21,692 shares during the period. 97.48% of the stock is owned by institutional investors.

Insider Activity

In other Elanco Animal Health news, Director William F. Doyle purchased 15,000 shares of Elanco Animal Health stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average price of $16.98 per share, for a total transaction of $254,700.00. Following the acquisition, the director now owns 76,330 shares in the company, valued at approximately $1,296,083.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.57% of the company’s stock.

Elanco Animal Health Trading Down 1.8 %

ELAN stock traded down $0.25 during trading on Friday, hitting $13.88. The company had a trading volume of 948,833 shares, compared to its average volume of 4,703,776. Elanco Animal Health Incorporated has a 52-week low of $8.52 and a 52-week high of $18.80. The company has a 50 day simple moving average of $16.50 and a 200-day simple moving average of $15.69. The firm has a market capitalization of $6.86 billion, a P/E ratio of -5.27, a PEG ratio of 1.37 and a beta of 1.42. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.95.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. Elanco Animal Health’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, research analysts forecast that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.