Short Interest in Eli Lilly and Drops By 11.4% (LLY)
Shares of Eli Lilly and (NYSE:LLY) saw a large decrease in short interest in July. As of July 15th, there was short interest totalling 19,160,146 shares, a decrease of 11.4% from the June 30th total of 21,636,995 shares, AnalystRatings.NET reports. Based on an average daily trading volume, of 3,091,827 shares, the days-to-cover ratio is currently 6.2 days. Currently, 1.9% of the company’s shares are sold short.
In other Eli Lilly and news, major shareholder Lilly Endowment Inc sold 250,000 shares of the company’s stock on the open market in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $63.03, for a total value of $15,757,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Several analysts have recently commented on the stock. Analysts at S&P Equity Research initiated coverage on shares of Eli Lilly and in a research note on Friday. They set a “buy” rating on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of Eli Lilly and from $48.00 to $60.00 in a research note on Friday. Finally, analysts at Tigress Financial initiated coverage on shares of Eli Lilly and in a research note on Friday. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Eli Lilly and presently has a consensus rating of “Hold” and a consensus price target of $64.14.
Eli Lilly and (NYSE:LLY) opened at 61.63 on Tuesday. Eli Lilly and has a 1-year low of $47.53 and a 1-year high of $65.70. The stock has a 50-day moving average of $62.36 and a 200-day moving average of $59.11. The company has a market cap of $66.049 billion and a P/E ratio of 19.27.
Eli Lilly and (NYSE:LLY) last released its earnings data on Thursday, July 24th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The company’s revenue for the quarter was down 16.8% on a year-over-year basis. Analysts expect that Eli Lilly and will post $2.78 EPS for the current fiscal year.
Eli Lilly and Company discovers, develops, manufactures, and sells products, in one business segment, pharmaceutical products.
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