Goldman Sachs Group, Inc. (The) Reaffirms Buy Rating for Eli Lilly and Company (LLY)
Eli Lilly and Company (NYSE:LLY)‘s stock had its “buy” rating reissued by equities research analysts at Goldman Sachs Group, Inc. (The) in a research note issued to investors on Thursday, The Fly reports. They currently have a $95.00 target price on the stock, up from their prior target price of $92.00. Goldman Sachs Group, Inc. (The)’s price target points to a potential upside of 9.25% from the stock’s current price.
A number of other analysts have also issued reports on the stock. Cowen and Company reiterated a “buy” rating and set a $95.00 price target on shares of Eli Lilly and in a research note on Wednesday. BMO Capital Markets reiterated a “sell” rating and set a $71.00 price target on shares of Eli Lilly and in a research note on Thursday, September 28th. Morgan Stanley reiterated a “hold” rating and set a $86.00 price target on shares of Eli Lilly and in a research note on Friday, September 15th. Jefferies Group LLC reiterated a “buy” rating and set a $89.00 price target on shares of Eli Lilly and in a research note on Monday, September 11th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $105.00 price target (up from $103.00) on shares of Eli Lilly and in a research note on Friday, September 8th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $88.42.
Eli Lilly and (NYSE LLY) traded up 0.79% on Thursday, reaching $87.65. 5,123,878 shares of the company’s stock were exchanged. Eli Lilly and has a one year low of $64.18 and a one year high of $89.09. The stock has a market cap of $92.47 billion, a price-to-earnings ratio of 37.93 and a beta of 0.34. The firm has a 50 day moving average of $81.75 and a 200-day moving average of $82.08.
Eli Lilly and (NYSE:LLY) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.06. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Eli Lilly and had a net margin of 11.12% and a return on equity of 28.71%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. Equities research analysts forecast that Eli Lilly and will post $4.16 EPS for the current fiscal year.
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In related news, major shareholder Lilly Endowment Inc sold 220,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $83.09, for a total value of $18,279,800.00. Following the completion of the transaction, the insider now directly owns 124,049,283 shares of the company’s stock, valued at $10,307,254,924.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 785,000 shares of company stock valued at $65,153,600 over the last ninety days. 0.20% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC boosted its holdings in shares of Eli Lilly and by 16.7% in the second quarter. Acrospire Investment Management LLC now owns 1,399 shares of the company’s stock valued at $115,000 after acquiring an additional 200 shares during the period. MPS Loria Financial Planners LLC acquired a new stake in shares of Eli Lilly and in the second quarter valued at approximately $128,000. San Francisco Sentry Investment Group CA acquired a new stake in shares of Eli Lilly and in the second quarter valued at approximately $129,000. Heritage Trust Co acquired a new stake in shares of Eli Lilly and in the first quarter valued at approximately $135,000. Finally, Point72 Asia Hong Kong Ltd boosted its holdings in shares of Eli Lilly and by 237.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,761 shares of the company’s stock valued at $148,000 after acquiring an additional 1,239 shares during the period. 75.72% of the stock is owned by hedge funds and other institutional investors.
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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