Eli Lilly and Company (NYSE:LLY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Lilly’s third-quarter 2017 results were strong with the company beating estimates on both counts. Lilly also raised its sales and earnings outlook for the second time this year mainly backed by strong uptake trends of new products. Lilly is also exploring strategic alternatives for the Animal Health business, a prudent decision in our view. Lilly’s new products like Trulicity, Taltz, Basaglar, Cyramza, Jardiance and Lartruvo have been driving revenues and the trend is expected to continue. Lilly expects to launch 20 new products between 2014 and 2023, including at least two new indications/line extensions on an average every year. However, key drug Alimta will continue to be impacted by competition. Meanwhile, the recent high-profile pipeline setbacks, competition from immuno-oncology agents, loss of exclusivity for many drugs, and weak performance of the Animal Health segment this year are an investor concern.”

Other research analysts have also recently issued reports about the stock. Berenberg Bank reissued a “buy” rating and set a $98.00 price objective on shares of Eli Lilly and in a report on Friday, August 4th. Oppenheimer Holdings Inc. cut shares of Eli Lilly and from an “outperform” rating to a “market perform” rating and set a $90.00 price objective for the company. in a report on Wednesday, July 26th. BMO Capital Markets reissued an “underperform” rating and set a $73.00 price objective on shares of Eli Lilly and in a report on Wednesday, July 26th. Jefferies Group LLC reissued a “buy” rating and set a $89.00 price objective on shares of Eli Lilly and in a report on Thursday, August 31st. Finally, Leerink Swann boosted their price objective on shares of Eli Lilly and from $92.00 to $93.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $89.76.

Shares of Eli Lilly and (NYSE:LLY) traded down 0.710% during midday trading on Monday, hitting $83.265. 1,939,954 shares of the stock traded hands. Eli Lilly and has a 52 week low of $64.18 and a 52 week high of $89.09. The firm has a market capitalization of $87.84 billion, a PE ratio of 36.030 and a beta of 0.34. The company’s 50-day moving average is $84.90 and its 200 day moving average is $82.27.

Eli Lilly and (NYSE:LLY) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. Eli Lilly and had a net margin of 9.90% and a return on equity of 30.72%. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the previous year, the company earned $0.88 earnings per share. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. Analysts anticipate that Eli Lilly and will post $4.20 earnings per share for the current year.

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In related news, major shareholder Lilly Endowment Inc sold 180,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $81.06, for a total transaction of $14,590,800.00. Following the completion of the transaction, the insider now owns 123,865,804 shares in the company, valued at $10,040,562,072.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 770,000 shares of company stock valued at $64,669,850. 0.20% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of LLY. Acrospire Investment Management LLC boosted its position in shares of Eli Lilly and by 16.7% during the second quarter. Acrospire Investment Management LLC now owns 1,399 shares of the company’s stock worth $115,000 after acquiring an additional 200 shares during the last quarter. MPS Loria Financial Planners LLC bought a new position in shares of Eli Lilly and during the second quarter worth $128,000. San Francisco Sentry Investment Group CA bought a new position in shares of Eli Lilly and during the second quarter worth $129,000. Heritage Trust Co bought a new position in shares of Eli Lilly and during the first quarter worth $135,000. Finally, Point72 Asia Hong Kong Ltd boosted its position in shares of Eli Lilly and by 237.4% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,761 shares of the company’s stock worth $148,000 after acquiring an additional 1,239 shares during the last quarter. Hedge funds and other institutional investors own 75.66% 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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