Eli Lilly and Co. (LLY) Stock Rating Lowered by Zacks Investment Research
Eli Lilly and Co. (NYSE:LLY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Eli Lilly’s presence across a wide range of therapeutic areas and its animal health business provide support in the face of generic competition. Lilly expects to launch 20 new products in a 10 year time-frame ranging from 2014 to 2023 and could launch at least two new indications/line extensions on an average every year. Products like Humalog, Trajenta, Cialis, Forteo, Strattera, Erbitux, and the animal health segment should drive growth while revenues from new products like Cyramza, Trulicity, Jardiance, Portrazza and Basaglar will pick up. However, Alimta will continue to be impacted by competition. Headwinds include competition from immuno-oncology agents as well as loss of exclusivity for many drugs in the emerging markets. Estimates have been mostly stable ahead of the company’s Q3 earnings release. The company has a positive record of earnings surprises in recent quarters.”
A number of other research firms have also recently weighed in on LLY. Citigroup Inc. reissued a “buy” rating on shares of Eli Lilly and in a report on Wednesday, August 3rd. Argus raised their price objective on shares of Eli Lilly and from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. BMO Capital Markets reissued a “buy” rating and set a $94.00 price objective on shares of Eli Lilly and in a report on Wednesday, July 27th. Leerink Swann reissued an “outperform” rating and set a $105.00 price objective on shares of Eli Lilly and in a report on Saturday, August 13th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Eli Lilly and in a report on Tuesday, September 20th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company 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 0.76% during trading on Wednesday, reaching $82.09. 4,241,408 shares of the company’s stock were exchanged. Eli Lilly and has a 52 week low of $67.88 and a 52 week high of $88.16. The firm has a market capitalization of $86.83 billion, a price-to-earnings ratio of 35.38 and a beta of 0.17. The stock has a 50-day moving average price of $79.44 and a 200 day moving average price of $77.49.
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. Eli Lilly and had a net margin of 11.97% and a return on equity of 23.99%. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the company earned $0.90 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts forecast that Eli Lilly and will post $3.59 earnings per share for the current fiscal year.
In other news, Director Jackson P. Tai bought 2,560 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The stock was purchased at an average price of $80.42 per share, with a total value of $205,875.20. Following the purchase, the director now owns 42,110 shares of the company’s stock, valued at approximately $3,386,486.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $79.54, for a total transaction of $16,703,400.00. Following the completion of the transaction, the insider now directly owns 126,220,804 shares of the company’s stock, valued at approximately $10,039,602,750.16. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Argent Trust Co increased its position in Eli Lilly and by 0.3% in the second quarter. Argent Trust Co now owns 4,184 shares of the company’s stock worth $329,000 after buying an additional 12 shares in the last quarter. MCF Advisors LLC increased its position in Eli Lilly and by 0.4% in the first quarter. MCF Advisors LLC now owns 3,918 shares of the company’s stock worth $282,000 after buying an additional 17 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its position in Eli Lilly and by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,905 shares of the company’s stock worth $308,000 after buying an additional 26 shares in the last quarter. Wagner Bowman Management Corp increased its position in Eli Lilly and by 0.3% in the second quarter. Wagner Bowman Management Corp now owns 9,672 shares of the company’s stock worth $761,000 after buying an additional 29 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in Eli Lilly and by 0.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,305 shares of the company’s stock worth $260,000 after buying an additional 31 shares in the last quarter. 74.96% of the stock is owned by hedge funds and other institutional investors.
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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