Trade Report: The Equities Analysts Set Expectations for Eli Lilly and Co.’s Q3 2016 Earnings (LLY)

The Equities Analysts Set Expectations for Eli Lilly and Co.’s Q3 2016 Earnings (LLY)

Eli Lilly and Co. (NYSE:LLY) – Jefferies Group issued their Q3 2016 earnings estimates for shares of Eli Lilly and in a research note issued on Thursday. Jefferies Group analyst J. Holford expects that the firm will post earnings of $0.98 per share for the quarter. Jefferies Group currently has a “Buy” rating and a $105.00 target price on the stock. Jefferies Group also issued estimates for Eli Lilly and’s FY2019 earnings at $5.61 EPS.

Eli Lilly and (NYSE:LLY) last issued its earnings results on Tuesday, July 26th. The company reported $0.86 earnings per share for the quarter, hitting the consensus estimate of $0.86. Eli Lilly and had a return on equity of 23.99% and a net margin of 11.97%. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the firm posted $0.90 EPS. The business’s revenue was up 8.6% compared to the same quarter last year.

Other research analysts also recently issued reports about the stock. Leerink Swann reiterated a “buy” rating on shares of Eli Lilly and in a report on Sunday, June 26th. Argus increased their price objective on Eli Lilly and from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Zacks Investment Research upgraded Eli Lilly and from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Friday, July 29th. BMO Capital Markets restated a “buy” rating and issued a $94.00 price objective on shares of Eli Lilly and in a report on Wednesday, July 27th. Finally, Citigroup Inc. restated a “buy” rating on shares of Eli Lilly and in a report on Wednesday, August 3rd. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $97.06.

Eli Lilly and (NYSE:LLY) traded down 0.69% during mid-day trading on Friday, hitting $79.45. The stock had a trading volume of 1,356,558 shares. The company has a market capitalization of $84.03 billion, a P/E ratio of 34.25 and a beta of 0.17. The stock’s 50-day moving average is $79.70 and its 200 day moving average is $77.73. Eli Lilly and has a 52 week low of $67.88 and a 52 week high of $88.16.

In other news, major shareholder Lilly Endowment Inc sold 240,000 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $82.87, for a total transaction of $19,888,800.00. Following the transaction, the insider now owns 126,020,570 shares of the company’s stock, valued at approximately $10,443,324,635.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Maria A. Crowe sold 2,248 shares of the stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $81.37, for a total transaction of $182,919.76. Following the transaction, the insider now directly owns 94,319 shares in the company, valued at approximately $7,674,737.03. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in LLY. Eaton Vance Management boosted its position in Eli Lilly and by 72.3% in the second quarter. Eaton Vance Management now owns 5,498,527 shares of the company’s stock worth $433,009,000 after buying an additional 2,307,920 shares during the period. Renaissance Technologies LLC boosted its position in Eli Lilly and by 565.1% in the first quarter. Renaissance Technologies LLC now owns 2,213,605 shares of the company’s stock worth $159,402,000 after buying an additional 1,880,800 shares during the period. Beutel Goodman & Co Ltd. bought a new position in Eli Lilly and during the second quarter worth about $104,345,000. Janus Capital Management LLC boosted its position in Eli Lilly and by 15.9% in the second quarter. Janus Capital Management LLC now owns 10,021,381 shares of the company’s stock worth $789,162,000 after buying an additional 1,377,814 shares during the period. Finally, Vanguard Group Inc. boosted its position in Eli Lilly and by 2.2% in the second quarter. Vanguard Group Inc. now owns 63,236,677 shares of the company’s stock worth $4,979,889,000 after buying an additional 1,350,329 shares during the period. 74.96% of the stock is currently owned by institutional investors.

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