Eli Lilly and Co. (LLY) Given a $73.00 Price Target at Morgan Stanley
Eli Lilly and Co. (NYSE:LLY) received a $73.00 price objective from equities researchers at Morgan Stanley in a report issued on Thursday. The firm currently has a “hold” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 5.61% from the stock’s previous close.
Several other brokerages also recently issued reports on LLY. Argus raised their target price on shares of Eli Lilly and from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Friday, August 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $94.00 target price on shares of Eli Lilly and in a research note on Tuesday, September 27th. Goldman Sachs Group Inc. upgraded shares of Eli Lilly and from a “neutral” rating to a “buy” rating and raised their target price for the company from $89.00 to $95.00 in a research note on Tuesday, September 27th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Eli Lilly and in a research note on Tuesday, September 20th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Eli Lilly and presently has a consensus rating of “Buy” and a consensus price target of $92.34.
Eli Lilly and (NYSE:LLY) traded up 1.65% during midday trading on Thursday, hitting $69.12. The stock had a trading volume of 8,620,682 shares. Eli Lilly and has a 1-year low of $64.18 and a 1-year high of $88.16. The company’s 50 day moving average is $76.69 and its 200 day moving average is $77.92. The company has a market cap of $73.11 billion, a price-to-earnings ratio of 30.07 and a beta of 0.28.
Eli Lilly and (NYSE:LLY) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.88 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by $0.08. The company earned $5.19 billion during the quarter, compared to the consensus estimate of $4.23 billion. Eli Lilly and had a net margin of 11.73% and a return on equity of 23.71%. Eli Lilly and’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. On average, equities analysts anticipate that Eli Lilly and will post $3.55 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Tuesday, November 15th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.95%. Eli Lilly and’s payout ratio is presently 88.70%.
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In other Eli Lilly and news, insider Maria A. Crowe sold 2,248 shares of the business’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $81.37, for a total transaction of $182,919.76. Following the sale, the insider now owns 94,319 shares of the company’s stock, valued at $7,674,737.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Exxonmobil Investment Management Inc. TX raised its position in shares of Eli Lilly and by 6.1% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 251,441 shares of the company’s stock worth $19,801,000 after buying an additional 14,451 shares during the period. DNB Asset Management AS raised its position in shares of Eli Lilly and by 14.8% in the second quarter. DNB Asset Management AS now owns 235,250 shares of the company’s stock worth $18,526,000 after buying an additional 30,400 shares during the period. Washington Trust Bank raised its position in shares of Eli Lilly and by 7.7% in the second quarter. Washington Trust Bank now owns 7,118 shares of the company’s stock worth $561,000 after buying an additional 509 shares during the period. Cohen Lawrence B raised its position in shares of Eli Lilly and by 1.5% in the second quarter. Cohen Lawrence B now owns 3,400 shares of the company’s stock worth $268,000 after buying an additional 50 shares during the period. Finally, Beutel Goodman & Co Ltd. acquired a new position in shares of Eli Lilly and during the second quarter worth approximately $104,345,000. 75.11% 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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