Eli Lilly and Company (NYSE:LLY)‘s stock had its “underperform” rating reaffirmed by research analysts at BMO Capital Markets in a report issued on Wednesday, September 6th. They presently have a $71.00 price objective on the stock, down from their prior price objective of $73.00. BMO Capital Markets’ target price suggests a potential downside of 15.39% from the company’s previous close.
A number of other analysts have also recently weighed in on the stock. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $92.00 price target on shares of Eli Lilly and in a research note on Tuesday, May 16th. Zacks Investment Research upgraded shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Monday, July 17th. Jefferies Group LLC restated a “buy” rating on shares of Eli Lilly and in a research note on Tuesday, May 30th. Oppenheimer Holdings, Inc. cut shares of Eli Lilly and from an “outperform” rating to a “market perform” rating and set a $90.00 target price for the company. in a research note on Wednesday, July 26th. Finally, TheStreet cut shares of Eli Lilly and from a “b+” rating to a “c” rating in a research note on Wednesday, May 31st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $88.27.
Shares of Eli Lilly and (LLY) opened at 83.91 on Wednesday. The company has a market capitalization of $88.53 billion, a PE ratio of 36.31 and a beta of 0.34. Eli Lilly and has a 12 month low of $64.18 and a 12 month high of $86.72. The stock has a 50 day moving average price of $80.84 and a 200-day moving average price of $82.02.
Eli Lilly and (NYSE:LLY) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.06. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. Eli Lilly and had a net margin of 11.12% and a return on equity of 28.71%. Eli Lilly and’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 EPS. Analysts forecast that Eli Lilly and will post $4.16 EPS for the current year.
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In other news, major shareholder Lilly Endowment Inc sold 220,000 shares of Eli Lilly and stock in a transaction dated 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 sale, the insider now directly owns 124,049,283 shares in the company, valued at $10,307,254,924.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 590,000 shares of company stock valued at $48,551,300 over the last 90 days. 0.20% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of LLY. BlackRock Inc. grew its holdings in shares of Eli Lilly and by 2,628.5% during the first quarter. BlackRock Inc. now owns 62,260,488 shares of the company’s stock worth $5,236,731,000 after buying an additional 59,978,664 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Eli Lilly and by 7,093.5% during the second quarter. Janus Henderson Group PLC now owns 9,353,275 shares of the company’s stock worth $769,774,000 after buying an additional 9,223,251 shares in the last quarter. Dodge & Cox grew its holdings in shares of Eli Lilly and by 22,094.9% during the second quarter. Dodge & Cox now owns 5,991,952 shares of the company’s stock worth $493,138,000 after buying an additional 5,964,955 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Eli Lilly and by 91.1% during the second quarter. Renaissance Technologies LLC now owns 5,694,905 shares of the company’s stock worth $468,691,000 after buying an additional 2,714,505 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Eli Lilly and by 3.3% during the first quarter. Vanguard Group Inc. now owns 68,597,006 shares of the company’s stock worth $5,769,694,000 after buying an additional 2,181,701 shares in the last quarter. Institutional investors and hedge funds own 75.72% 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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