Eli Lilly and Co. (NYSE:LLY) Given Average Recommendation of “Buy” by Analysts
Shares of Eli Lilly and Co. (NYSE:LLY) have received an average rating of “Buy” from the twenty-one brokerages that are covering the company. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $94.69.
Several brokerages have commented on LLY. Leerink Swann reissued a “buy” rating on shares of Eli Lilly and in a research report on Sunday, June 26th. Morgan Stanley reissued a “hold” rating and set a $88.00 price target on shares of Eli Lilly and in a research report on Saturday, June 4th. BMO Capital Markets reaffirmed a “buy” rating and issued a $94.00 target price on shares of Eli Lilly and in a report on Wednesday, July 27th. Zacks Investment Research raised shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Friday, July 29th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Eli Lilly and in a report on Thursday, May 26th.
Eli Lilly and (NYSE:LLY) traded down 0.15% during midday trading on Wednesday, reaching $79.76. The company’s stock had a trading volume of 1,231,147 shares. Eli Lilly and has a 52 week low of $67.88 and a 52 week high of $88.48. The firm has a market cap of $84.36 billion, a P/E ratio of 34.38 and a beta of 0.20. The firm has a 50 day moving average price of $79.51 and a 200-day moving average price of $76.76.
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Eli Lilly and (NYSE:LLY) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.86 EPS for the quarter, hitting the consensus estimate of $0.86. Eli Lilly and had a net margin of 11.97% and a return on equity of 23.99%. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the firm posted $0.90 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts forecast that Eli Lilly and will post $3.59 earnings per share for the current fiscal year.
In related news, Director Jackson P. Tai acquired 2,560 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was acquired at an average price of $80.42 per share, with a total value of $205,875.20. Following the purchase, the director now directly owns 42,110 shares in the company, valued at $3,386,486.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 220,000 shares of the stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $77.86, for a total transaction of $17,129,200.00. Following the completion of the transaction, the insider now directly owns 126,963,785 shares of the company’s stock, valued at approximately $9,885,400,300.10. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of 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 valued at $433,009,000 after buying an additional 2,307,920 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Eli Lilly and by 565.1% in the first quarter. Renaissance Technologies LLC now owns 2,213,605 shares of the company’s stock valued at $159,402,000 after buying an additional 1,880,800 shares during the last quarter. Beutel Goodman & Co Ltd. bought a new position in shares of Eli Lilly and during the second quarter valued at approximately $104,345,000. Janus Capital Management LLC increased its position in shares of 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 valued at $789,162,000 after buying an additional 1,377,814 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Eli Lilly and by 2.2% in the second quarter. Vanguard Group Inc. now owns 63,236,677 shares of the company’s stock valued at $4,979,889,000 after buying an additional 1,350,329 shares during the last quarter. 74.96% of the stock is owned by institutional investors and hedge funds.
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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