Eli Lilly and Co. (LLY) to Post FY2016 Earnings of $3.64 Per Share, Leerink Swann Forecasts
Eli Lilly and Co. (NYSE:LLY) – Equities research analysts at Leerink Swann reduced their FY2016 earnings per share estimates for Eli Lilly and in a report issued on Thursday. Leerink Swann analyst S. Fernandez now expects that the firm will post earnings per share of $3.64 for the year, down from their previous estimate of $3.66. Leerink Swann currently has a “Outperform” rating and a $105.00 target price on the stock. Leerink Swann also issued estimates for Eli Lilly and’s Q4 2016 earnings at $1.03 EPS and FY2017 earnings at $4.03 EPS.
Eli Lilly and (NYSE:LLY) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.86 earnings per share for the quarter, hitting the Thomson Reuters’ 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 analysts’ expectations of $5.14 billion. During the same period in the prior year, the company posted $0.90 earnings per share. Eli Lilly and’s revenue for the quarter was up 8.6% compared to the same quarter last year.
LLY has been the topic of a number of other reports. Citigroup Inc. reissued a “buy” rating on shares of Eli Lilly and in a research report on Wednesday, August 3rd. Argus boosted their price objective on shares of Eli Lilly and from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Zacks Investment Research raised shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research report on Friday, July 29th. BMO Capital Markets reissued a “buy” rating and set a $94.00 price objective on shares of Eli Lilly and in a research report on Wednesday, July 27th. Finally, Jefferies Group boosted their price objective on shares of Eli Lilly and from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, July 14th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Eli Lilly and currently has an average rating of “Buy” and an average price target of $97.16.
Shares of Eli Lilly and (NYSE:LLY) opened at 82.09 on Friday. The stock’s 50 day moving average is $79.44 and its 200 day moving average is $77.49. Eli Lilly and has a 52-week low of $67.88 and a 52-week high of $88.16. The firm has a market capitalization of $86.83 billion, a PE ratio of 35.38 and a beta of 0.17.
In other Eli Lilly and news, Director Jackson P. Tai acquired 2,560 shares of the stock in a transaction dated Friday, August 12th. The shares were purchased at an average price of $80.42 per share, for a total transaction of $205,875.20. Following the purchase, the director now directly owns 42,110 shares of the company’s stock, valued at $3,386,486.20. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Donald A. Zakrowski sold 1,213 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $83.16, for a total transaction of $100,873.08. Following the completion of the transaction, the insider now owns 1,300 shares in the company, valued at approximately $108,108. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. Iowa State Bank purchased a new stake in Eli Lilly and during the second quarter valued at about $104,000. PineBridge Investments L.P. raised its stake in Eli Lilly and by 208.6% in the second quarter. PineBridge Investments L.P. now owns 1,361 shares of the company’s stock valued at $108,000 after buying an additional 920 shares in the last quarter. Cribstone Capital Management LLC purchased a new stake in Eli Lilly and during the second quarter valued at about $117,000. Coconut Grove Bank raised its stake in Eli Lilly and by 3.3% in the second quarter. Coconut Grove Bank now owns 1,550 shares of the company’s stock valued at $122,000 after buying an additional 50 shares in the last quarter. Finally, Physicians Financial Services Inc. raised its stake in Eli Lilly and by 11.2% in the second quarter. Physicians Financial Services Inc. now owns 1,638 shares of the company’s stock valued at $129,000 after buying an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 74.96% of the company’s stock.
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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