Eli Lilly and Company (LLY) Earns “Overweight” Rating from Piper Jaffray Companies
Eli Lilly and Company (NYSE:LLY)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Jaffray Companies in a research report issued to clients and investors on Friday. They presently have a $105.00 price objective on the stock, up from their prior price objective of $103.00. Piper Jaffray Companies’ target price suggests a potential upside of 26.63% from the stock’s previous close.
LLY has been the topic of a number of other research reports. Zacks Investment Research raised shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Monday, July 17th. Jefferies Group LLC reissued a “buy” rating and issued a $89.00 price target (down previously from $94.00) on shares of Eli Lilly and in a research report on Thursday, August 24th. Berenberg Bank reissued a “buy” rating and issued a $100.00 price target on shares of Eli Lilly and in a research report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $92.00 target price on shares of Eli Lilly and in a research report on Tuesday, May 16th. Finally, BidaskClub raised shares of Eli Lilly and from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. Eli Lilly and currently has a consensus rating of “Hold” and a consensus price target of $88.07.
Eli Lilly and (LLY) traded up 1.69% during midday trading on Friday, reaching $82.92. 3,961,293 shares of the company were exchanged. Eli Lilly and has a one year low of $64.18 and a one year high of $86.72. The firm’s 50-day moving average is $80.99 and its 200-day moving average is $82.04. The firm has a market cap of $87.48 billion, a P/E ratio of 35.88 and a beta of 0.34.
Eli Lilly and (NYSE:LLY) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.06. Eli Lilly and had a net margin of 11.12% and a return on equity of 28.71%. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same quarter last year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts expect that Eli Lilly and will post $4.16 EPS for the current fiscal year.
In other news, major shareholder Lilly Endowment Inc sold 215,000 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $83.05, for a total value of $17,855,750.00. Following the sale, the insider now owns 124,475,804 shares in the company, valued at approximately $10,337,715,522.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Melissa S. Barnes sold 1,900 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $80.78, for a total transaction of $153,482.00. Following the completion of the sale, the insider now owns 14,041 shares in the company, valued at approximately $1,134,231.98. The disclosure for this sale can be found here. Insiders sold a total of 826,900 shares of company stock worth $68,610,132 in the last 90 days. 0.20% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Eli Lilly and by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 70,207,891 shares of the company’s stock worth $5,778,109,000 after buying an additional 1,610,885 shares in the last quarter. BlackRock Inc. lifted its position in Eli Lilly and by 2.1% during the 2nd quarter. BlackRock Inc. now owns 63,583,747 shares of the company’s stock worth $5,232,942,000 after buying an additional 1,323,259 shares in the last quarter. State Street Corp lifted its position in Eli Lilly and by 1.6% during the 1st quarter. State Street Corp now owns 42,363,935 shares of the company’s stock worth $3,563,230,000 after buying an additional 651,424 shares in the last quarter. Janus Henderson Group PLC lifted its position in Eli Lilly and by 7,093.5% during the 2nd quarter. Janus Henderson Group PLC now owns 9,353,275 shares of the company’s stock worth $769,774,000 after buying an additional 9,223,251 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Eli Lilly and by 8.4% during the 1st quarter. Geode Capital Management LLC now owns 9,103,975 shares of the company’s stock worth $764,597,000 after buying an additional 708,597 shares in the last quarter. Institutional investors own 75.77% 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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