Eli Lilly and Co. (LLY) Lowered to Hold at Zacks Investment Research
Eli Lilly and Co. (NYSE:LLY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Eli Lilly’s presence across a wide range of therapeutic areas and its animal health business provide support in the face of generic competition. Lilly expects to launch 20 new products in a 10 year time-frame ranging from 2014 to 2023 and could launch at least two new indications/line extensions on an average every year. Products like Humalog, Trajenta, Cialis, Forteo, Strattera, Erbitux, and the animal health segment should drive growth while revenues from new products like Cyramza, Trulicity, Jardiance, Portrazza and Basaglar will pick up. However, Alimta will continue to be impacted by competition. Headwinds include competition from immuno-oncology agents as well as loss of exclusivity for many drugs in the emerging markets. Estimates have been mostly stable ahead of the company’s Q3 earnings release. The company has a positive record of earnings surprises in recent quarters.”
A number of other research analysts have also recently issued reports on LLY. Jefferies Group lifted their price objective on Eli Lilly and from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, July 14th. Goldman Sachs Group Inc. raised Eli Lilly and from a “neutral” rating to a “buy” rating and lifted their price target for the company from $89.00 to $95.00 in a report on Tuesday, September 27th. Argus lifted their price target on Eli Lilly and from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. JPMorgan Chase & Co. raised Eli Lilly and from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $92.00 to $95.00 in a report on Thursday, September 8th. Finally, SunTrust Banks Inc. reaffirmed a “buy” rating on shares of Eli Lilly and in a report on Wednesday, June 15th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $97.16.
Shares of Eli Lilly and (NYSE:LLY) traded up 0.38% during mid-day trading on Wednesday, hitting $81.42. 1,190,792 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $79.28 and a 200-day moving average price of $77.34. Eli Lilly and has a 52 week low of $67.88 and a 52 week high of $88.16. The company has a market capitalization of $86.12 billion, a price-to-earnings ratio of 35.09 and a beta of 0.17.
Eli Lilly and (NYSE:LLY) last issued its earnings results on Tuesday, July 26th. The company reported $0.86 EPS for the quarter, hitting the consensus estimate of $0.86. The firm earned $5.40 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Eli Lilly and had a return on equity of 23.99% and a net margin of 11.97%. Eli Lilly and’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $0.90 earnings per share. On average, equities analysts anticipate that Eli Lilly and will post $3.59 EPS for the current year.
In other Eli Lilly and news, major shareholder Lilly Endowment Inc sold 225,000 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $79.14, for a total value of $17,806,500.00. Following the sale, the insider now owns 126,442,509 shares in the company, valued at approximately $10,006,660,162.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jackson P. Tai bought 5,773 shares of the business’s stock in a transaction on Monday, August 15th. The stock was purchased at an average price of $80.43 per share, for a total transaction of $464,322.39. Following the purchase, the director now directly owns 42,306 shares in the company, valued at approximately $3,402,671.58. The disclosure for this purchase can be found here. 0.20% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Argent Trust Co boosted its stake in Eli Lilly and by 0.3% in the second quarter. Argent Trust Co now owns 4,184 shares of the company’s stock valued at $329,000 after buying an additional 12 shares during the last quarter. MCF Advisors LLC boosted its stake in Eli Lilly and by 0.4% in the first quarter. MCF Advisors LLC now owns 3,918 shares of the company’s stock valued at $282,000 after buying an additional 17 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in Eli Lilly and by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,905 shares of the company’s stock valued at $308,000 after buying an additional 26 shares during the last quarter. Wagner Bowman Management Corp boosted its stake in Eli Lilly and by 0.3% in the second quarter. Wagner Bowman Management Corp now owns 9,672 shares of the company’s stock valued at $761,000 after buying an additional 29 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Eli Lilly and by 0.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,305 shares of the company’s stock valued at $260,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 74.96% of the company’s stock.
Eli Lilly and Company Profile
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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