Deutsche Bank AG Reiterates Buy Rating for Eli Lilly and Co. (LLY)
Eli Lilly and Co. (NYSE:LLY)‘s stock had its “buy” rating reissued by equities research analysts at Deutsche Bank AG in a report released on Tuesday.
A number of other equities analysts have also weighed in on the company. Jefferies Group reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Eli Lilly and in a research note on Wednesday, September 14th. JPMorgan Chase & Co. raised Eli Lilly and from a “neutral” rating to an “overweight” rating and increased their price target for the company from $92.00 to $95.00 in a research note on Thursday, September 8th. Leerink Swann reissued an “outperform” rating and set a $105.00 price target on shares of Eli Lilly and in a research note on Saturday, August 13th. Zacks Investment Research raised Eli Lilly and from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Friday, August 5th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Eli Lilly and in a research note on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $96.85.
Shares of Eli Lilly and (NYSE:LLY) traded up 0.54% during trading on Tuesday, reaching $80.31. The company’s stock had a trading volume of 1,707,790 shares. The company has a 50 day moving average of $79.51 and a 200-day moving average of $76.76. The stock has a market cap of $84.94 billion, a price-to-earnings ratio of 34.62 and a beta of 0.20. Eli Lilly and has a 12-month low of $67.88 and a 12-month high of $88.48.
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Eli Lilly and (NYSE:LLY) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.86. The firm earned $5.40 billion during the quarter, compared to analyst estimates of $5.14 billion. Eli Lilly and had a return on equity of 23.99% and a net margin of 11.97%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share. Analysts forecast that Eli Lilly and will post $3.59 EPS for the current year.
In other news, major shareholder Lilly Endowment Inc sold 220,000 shares of Eli Lilly and stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $77.86, for a total value of $17,129,200.00. Following the transaction, the insider now directly owns 126,963,785 shares in the company, valued at approximately $9,885,400,300.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jackson P. Tai purchased 2,560 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was bought at an average price of $80.42 per share, for a total transaction of $205,875.20. Following the completion of the acquisition, the director now directly owns 42,110 shares in the company, valued at approximately $3,386,486.20. The disclosure for this purchase can be found here. 0.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Eaton Vance Management increased its position in shares of 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 in the last quarter. Renaissance Technologies LLC boosted its stake 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 last quarter. Beutel Goodman & Co Ltd. acquired a new stake in Eli Lilly and during the second quarter worth $104,345,000. Janus Capital Management LLC boosted its stake 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 last quarter. Finally, Vanguard Group Inc. boosted its stake 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 last quarter. Institutional investors and hedge funds own 74.96% 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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