Eli Lilly and Company (NYSE:LLY) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Eli Lilly and Company (NYSE:LLY) from a sell rating to a hold rating in a research report report published on Tuesday, July 11th.
According to Zacks, “Lilly’s presence across a wide range of therapeutic areas and its animal health business provide support in the face of generic competition. Lilly also expects some established products like Trajenta, Forteo and Humalog to continue doing well. Lilly expects to launch 20 new products between 2014 and 2023, including the launch of at least two new indications/line extensions on an average every year. Although the stock has risen this year, the increase is almost in-line with the large cap pharma industry. However, Alimta will continue to be impacted by competition. Other headwinds include competition from immuno-oncology agents as well as loss of exclusivity for many drugs in the emerging markets. Meanwhile, the recent high-profile pipeline setbacks are an investor concern. Estimates have remained stable ahead of the company’s Q2 release. The company has a negative record of earnings surprises in recent quarters.”
Other analysts have also issued reports about the stock. UBS AG increased their price target on shares of Eli Lilly and from $70.00 to $85.00 and gave the company a neutral rating in a research report on Monday, March 20th. Cowen and Company increased their price target on shares of Eli Lilly and from $85.00 to $95.00 and gave the company an outperform rating in a research report on Monday, April 17th. Sanford C. Bernstein reiterated an outperform rating and issued a $88.00 price target on shares of Eli Lilly and in a research report on Sunday, May 21st. TheStreet downgraded shares of Eli Lilly and from a b+ rating to a c rating in a research note on Wednesday, May 31st. Finally, Citigroup Inc. reissued a buy rating and set a $100.00 price objective on shares of Eli Lilly and in a research note on Thursday, April 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $88.27.
Eli Lilly and (NYSE:LLY) opened at 82.31 on Tuesday. Eli Lilly and has a 1-year low of $64.18 and a 1-year high of $86.72. The stock has a market capitalization of $86.84 billion, a price-to-earnings ratio of 35.62 and a beta of 0.34. The firm has a 50-day moving average of $82.99 and a 200-day moving average of $81.53.
Eli Lilly and (NYSE:LLY) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.05 by $0.06. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Eli Lilly and had a net margin of 11.12% and a return on equity of 28.71%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 earnings per share. Equities research analysts anticipate that Eli Lilly and will post $4.16 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Friday, August 11th. Eli Lilly and’s dividend payout ratio is presently 90.04%.
In other news, VP Michael J. Harrington sold 22,833 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $79.97, for a total value of $1,825,955.01. Following the transaction, the vice president now owns 62,056 shares of the company’s stock, valued at approximately $4,962,618.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 220,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $83.09, for a total transaction of $18,279,800.00. Following the completion of the transaction, the insider now directly owns 124,049,283 shares in the company, valued at approximately $10,307,254,924.47. The disclosure for this sale can be found here. In the last three months, insiders sold 669,733 shares of company stock worth $55,845,287. Insiders own 0.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. First Command Financial Services Inc. raised its stake in Eli Lilly and by 7.3% in the first quarter. First Command Financial Services Inc. now owns 1,227 shares of the company’s stock worth $103,000 after buying an additional 84 shares during the last quarter. Heritage Trust Co purchased a new stake in Eli Lilly and during the first quarter worth $135,000. LeJeune Puetz Investment Counsel LLC purchased a new stake in Eli Lilly and during the fourth quarter worth $136,000. Point72 Asia Hong Kong Ltd raised its stake in Eli Lilly and by 237.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,761 shares of the company’s stock worth $148,000 after buying an additional 1,239 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. purchased a new stake in Eli Lilly and during the second quarter worth $148,000. 75.48% of the stock is owned by institutional investors and hedge funds.
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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