FY2016 Earnings Forecast for Eli Lilly and Co. Issued By Leerink Swann (LLY)
Eli Lilly and Co. (NYSE:LLY) – Equities research analysts at Leerink Swann lowered their FY2016 earnings per share (EPS) estimates for shares of Eli Lilly and in a research note issued to investors on Thursday. Leerink Swann analyst S. Fernandez now anticipates that the firm will post earnings of $3.64 per share for the year, down from their previous forecast of $3.66. Leerink Swann has a “Outperform” rating and a $105.00 price objective on the stock. Leerink Swann also issued estimates for Eli Lilly and’s Q4 2016 earnings at $1.03 EPS and FY2017 earnings at $4.03 EPS.
Eli Lilly and (NYSE:LLY) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.86 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.86. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.14 billion. Eli Lilly and had a net margin of 11.97% and a return on equity of 23.99%. Eli Lilly and’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 earnings per share.
A number of other equities research analysts have also recently commented on LLY. BMO Capital Markets reaffirmed a “buy” rating and set a $94.00 price objective on shares of Eli Lilly and in a research note 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 price objective on the stock in a research note on Friday, July 29th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Eli Lilly and in a research note on Tuesday, September 20th. Citigroup Inc. reaffirmed a “buy” rating on shares of Eli Lilly and in a research note on Wednesday, August 3rd. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Eli Lilly and in a research note on Tuesday, June 28th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $97.16.
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Eli Lilly and (NYSE:LLY) traded up 0.05% during midday trading on Friday, reaching $81.51. 1,886,472 shares of the company were exchanged. The firm’s 50 day moving average price is $79.37 and its 200-day moving average price is $77.41. The stock has a market capitalization of $86.21 billion, a P/E ratio of 35.13 and a beta of 0.17. Eli Lilly and has a 52 week low of $67.88 and a 52 week high of $88.16.
A number of hedge funds have recently modified their holdings of the company. Iowa State Bank acquired a new stake in shares of Eli Lilly and during the second quarter valued at approximately $104,000. PineBridge Investments L.P. increased its stake in shares of Eli Lilly and by 208.6% in the second quarter. PineBridge Investments L.P. now owns 1,361 shares of the company’s stock valued at $108,000 after buying an additional 920 shares during the last quarter. Cribstone Capital Management LLC acquired a new stake in shares of Eli Lilly and during the second quarter valued at approximately $117,000. Coconut Grove Bank increased its stake in shares of Eli Lilly and by 3.3% in the second quarter. Coconut Grove Bank now owns 1,550 shares of the company’s stock valued at $122,000 after buying an additional 50 shares during the last quarter. Finally, Physicians Financial Services Inc. increased its stake in shares of Eli Lilly and by 11.2% in the second quarter. Physicians Financial Services Inc. now owns 1,638 shares of the company’s stock valued at $129,000 after buying an additional 165 shares during the last quarter. 74.96% of the stock is currently owned by institutional investors and hedge funds.
In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $79.54, for a total transaction of $16,703,400.00. Following the sale, the insider now owns 126,220,804 shares of the company’s stock, valued at approximately $10,039,602,750.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald A. Zakrowski sold 1,213 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $83.16, for a total value of $100,873.08. Following the sale, the insider now directly owns 1,300 shares in the company, valued at approximately $108,108. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.
Eli Lilly and Company Profile
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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