Eli Lilly and Co. (LLY) Stock Rating Lowered by Atlantic Securities
Eli Lilly and Co. (NYSE:LLY) was downgraded by Atlantic Securities from an “overweight” rating to a “neutral” rating in a research note issued to investors on Friday.
Other research analysts also recently issued reports about the company. Argus raised their price objective on 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 raised Eli Lilly and from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Friday, July 29th. Leerink Swann reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Eli Lilly and in a report on Saturday, August 13th. Citigroup Inc. reaffirmed a “buy” rating on shares of Eli Lilly and in a report on Wednesday, August 3rd. Finally, BMO Capital Markets lowered Eli Lilly and from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $91.00 to $64.00 in a report on Wednesday, November 23rd. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $108.34.
Shares of Eli Lilly and (NYSE:LLY) opened at 67.20 on Friday. The firm has a market capitalization of $71.08 billion, a price-to-earnings ratio of 29.23 and a beta of 0.28. The firm has a 50-day moving average price of $76.26 and a 200 day moving average price of $77.88. Eli Lilly and has a 12 month low of $64.18 and a 12 month high of $88.16.
Eli Lilly and (NYSE:LLY) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.96 by $0.08. Eli Lilly and had a net margin of 11.73% and a return on equity of 23.71%. The company earned $5.19 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the previous year, the business posted $0.89 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. On average, analysts anticipate that Eli Lilly and will post $3.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Tuesday, November 15th will be given 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 3.04%. Eli Lilly and’s payout ratio is currently 88.70%.
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In other news, insider Maria A. Crowe sold 2,248 shares of the business’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $81.37, for a total transaction of $182,919.76. Following the completion of the sale, the insider now owns 94,319 shares in the company, valued at $7,674,737.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in LLY. RWC Asset Management LLP increased its stake in Eli Lilly and by 3.7% in the third quarter. RWC Asset Management LLP now owns 712,392 shares of the company’s stock worth $57,177,000 after buying an additional 25,429 shares during the last quarter. ETRADE Capital Management LLC increased its stake in Eli Lilly and by 37.7% in the third quarter. ETRADE Capital Management LLC now owns 12,904 shares of the company’s stock worth $1,036,000 after buying an additional 3,531 shares during the last quarter. D.A. Davidson & CO. increased its stake in Eli Lilly and by 53.1% in the third quarter. D.A. Davidson & CO. now owns 41,009 shares of the company’s stock worth $3,289,000 after buying an additional 14,215 shares during the last quarter. Sheets Smith Wealth Management increased its stake in Eli Lilly and by 28.8% in the third quarter. Sheets Smith Wealth Management now owns 3,801 shares of the company’s stock worth $305,000 after buying an additional 851 shares during the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new stake in Eli Lilly and during the third quarter worth $17,345,000. Institutional investors own 73.93% 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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