Eli Lilly and Co. (NYSE:LLY) was downgraded by equities researchers at Atlantic Securities from an “overweight” rating to a “neutral” rating in a report issued on Friday, The Fly reports.
A number of other analysts have also weighed in on the company. Goldman Sachs Group Inc. upgraded Eli Lilly and from a “neutral” rating to a “buy” rating and increased their target price for the stock from $89.00 to $95.00 in a research note on Tuesday, September 27th. Zacks Investment Research downgraded Eli Lilly and from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Jefferies Group reissued a “buy” rating and set a $105.00 price target on shares of Eli Lilly and in a research report on Wednesday, September 14th. Argus increased their price target on Eli Lilly and from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. raised Eli Lilly and from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $92.00 to $95.00 in a research report on Thursday, September 8th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $95.39.
Eli Lilly and (NYSE:LLY) opened at 68.00 on Friday. The stock has a market cap of $71.92 billion, a price-to-earnings ratio of 29.58 and a beta of 0.28. Eli Lilly and has a 12 month low of $64.18 and a 12 month high of $88.16. The firm has a 50-day moving average price of $77.17 and a 200-day moving average price of $77.97.
Eli Lilly and (NYSE:LLY) last released its earnings results on Tuesday, October 25th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by $0.08. Eli Lilly and had a return on equity of 23.71% and a net margin of 11.73%. The business earned $5.19 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter in the previous year, the business earned $0.89 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts expect that Eli Lilly and will post $3.55 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 15th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.00%. The ex-dividend date is Thursday, November 10th. Eli Lilly and’s dividend payout ratio is currently 88.70%.
In related news, insider Maria A. Crowe sold 2,248 shares of Eli Lilly and stock in a transaction that occurred 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 transaction, the insider now directly owns 94,319 shares in the company, valued at $7,674,737.03. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Iowa State Bank bought a new position in shares of Eli Lilly and during the second quarter valued at $104,000. PineBridge Investments L.P. raised its stake in shares of 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 during the last quarter. Tradewinds Capital Management LLC raised its stake in shares of Eli Lilly and by 22.3% in the third quarter. Tradewinds Capital Management LLC now owns 1,345 shares of the company’s stock valued at $108,000 after buying an additional 245 shares during the last quarter. Integrated Wealth Management raised its stake in shares of Eli Lilly and by 3.7% in the third quarter. Integrated Wealth Management now owns 1,389 shares of the company’s stock valued at $112,000 after buying an additional 50 shares during the last quarter. Finally, Financial Architects Inc raised its stake in shares of Eli Lilly and by 4.5% in the third quarter. Financial Architects Inc now owns 1,423 shares of the company’s stock valued at $114,000 after buying an additional 61 shares during the last quarter. Institutional investors own 75.11% 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.