Insider Selling: Lilly Endowment Inc Sells 200,000 Shares of Eli Lilly and Stock (LLY)
Eli Lilly and (NYSE:LLY) major shareholder Lilly Endowment Inc unloaded 200,000 shares of the stock on the open market in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $63.99, for a total transaction of $12,798,000.00. Following the completion of the transaction, the insider now directly owns 133,140,804 shares of the company’s stock, valued at approximately $8,519,680,048. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Eli Lilly and (NYSE:LLY) traded up 0.22% during mid-day trading on Thursday, hitting $64.29. The stock had a trading volume of 1,909,202 shares. Eli Lilly and has a 52 week low of $47.53 and a 52 week high of $65.70. The stock has a 50-day moving average of $62.33 and a 200-day moving average of $60.29. The company has a market cap of $68.900 billion and a price-to-earnings ratio of 20.37.
Eli Lilly and (NYSE:LLY) last released its earnings data on Thursday, July 24th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.16 earnings per share. The company’s quarterly revenue 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.
A number of analysts have recently weighed in on LLY shares. Analysts at Deutsche Bank initiated coverage on shares of Eli Lilly and in a research note on Wednesday, August 27th. They set a “buy” rating and a $71.00 price target on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Eli Lilly and from $65.00 to $61.00 in a research note on Monday, August 11th. They now have a “hold” rating on the stock. Finally, analysts at S&P Equity Research initiated coverage on shares of Eli Lilly and in a research note on Friday, August 1st. 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 eleven have issued a buy rating to the company’s stock. Eli Lilly and has an average rating of “Buy” and a consensus price target of $64.33.
Eli Lilly and Company, discovers, develops, manufactures, and sells products, in one business segment, pharmaceutical products.
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