Eli Lilly and Co. (LLY) Stock Rating Upgraded by Goldman Sachs Group Inc.
Eli Lilly and Co. (NYSE:LLY) was upgraded by analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $95.00 target price on the stock, up from their prior target price of $89.00. Goldman Sachs Group Inc.’s target price would indicate a potential upside of 17.71% from the company’s previous close.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Friday, August 5th. Citigroup Inc. reissued a “buy” rating on shares of Eli Lilly and in a research report on Wednesday, August 3rd. Argus increased their price objective on shares of Eli Lilly and from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. BMO Capital Markets reissued a “buy” rating and issued a $94.00 price objective on shares of Eli Lilly and in a research report on Wednesday, July 27th. Finally, Jefferies Group increased their price objective on shares of Eli Lilly and from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, July 14th. Two analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $97.16.
Eli Lilly and (NYSE:LLY) opened at 80.71 on Tuesday. The firm has a 50-day moving average of $79.27 and a 200 day moving average of $77.04. The stock has a market cap of $85.37 billion, a PE ratio of 34.79 and a beta of 0.20. Eli Lilly and has a 12 month low of $67.88 and a 12 month high of $88.48.
Eli Lilly and (NYSE:LLY) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.86. Eli Lilly and had a net margin of 11.97% and a return on equity of 23.99%. The company earned $5.40 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts anticipate that Eli Lilly and will post $3.59 EPS for the current year.
In related news, Director Jackson P. Tai bought 5,773 shares of the stock in a transaction on Monday, August 15th. The shares were purchased at an average price of $80.43 per share, with a total value of $464,322.39. Following the purchase, the director now owns 42,306 shares in the company, valued at $3,402,671.58. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 240,000 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $82.87, for a total transaction of $19,888,800.00. Following the transaction, the insider now directly owns 126,020,570 shares in the company, valued at approximately $10,443,324,635.90. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in LLY. Sanders Morris Harris Inc. bought a new position in Eli Lilly and during the first quarter valued at approximately $740,000. Investment Centers of America Inc. boosted its position in Eli Lilly and by 17.1% in the first quarter. Investment Centers of America Inc. now owns 26,787 shares of the company’s stock valued at $1,922,000 after buying an additional 3,911 shares during the last quarter. Glenmede Trust Co. NA boosted its position in Eli Lilly and by 3.5% in the first quarter. Glenmede Trust Co. NA now owns 907,284 shares of the company’s stock valued at $65,332,000 after buying an additional 30,962 shares during the last quarter. Chesley Taft & Associates LLC boosted its position in Eli Lilly and by 8.0% in the first quarter. Chesley Taft & Associates LLC now owns 4,780 shares of the company’s stock valued at $344,000 after buying an additional 356 shares during the last quarter. Finally, Douglas Lane & Associates LLC bought a new position in Eli Lilly and during the first quarter valued at approximately $550,000. 74.96% of the stock is currently owned by hedge funds and other institutional investors.
About Eli Lilly and
Eli Lilly and Company is engaged in drug manufacturing business. The Company discovers, develops, manufactures and markets products in two segments: human pharmaceutical products and animal health products. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.
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