Eli Lilly and Company (LLY) Given a $73.00 Price Target at BMO Capital Markets
Eli Lilly and Company (NYSE:LLY) has been given a $73.00 target price by BMO Capital Markets in a research report issued to clients and investors on Wednesday. The firm currently has a “sell” rating on the stock. BMO Capital Markets’ price objective suggests a potential downside of 10.91% from the company’s previous close.
Several other research firms have also issued reports on LLY. Morgan Stanley set a $86.00 price objective on shares of Eli Lilly and and gave the company a “hold” rating in a research note on Friday, October 6th. Leerink Swann lifted 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 research note on Monday, October 23rd. Credit Suisse Group lowered shares of Eli Lilly and from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $84.23 to $88.00 in a research note on Tuesday, October 10th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $95.00 price objective (up previously from $92.00) on shares of Eli Lilly and in a research note on Thursday, October 5th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Eli Lilly and in a research note on Friday, October 13th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $89.76.
Eli Lilly and (NYSE:LLY) last issued its earnings results on Tuesday, October 24th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.52 billion. Eli Lilly and had a net margin of 9.90% and a return on equity of 30.72%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $0.88 EPS.
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In other news, major shareholder Lilly Endowment Inc sold 180,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly 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 Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 770,000 shares of company stock worth $64,669,850 over the last quarter. 0.20% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of LLY. BlackRock Inc. raised its stake in shares of Eli Lilly and by 2,628.5% during the first quarter. BlackRock Inc. now owns 62,260,488 shares of the company’s stock worth $5,236,731,000 after buying an additional 59,978,664 shares during the last quarter. Janus Henderson Group PLC increased its stake in Eli Lilly and by 7,093.5% in the second quarter. Janus Henderson Group PLC now owns 9,353,275 shares of the company’s stock valued at $769,774,000 after purchasing an additional 9,223,251 shares in the last quarter. Dodge & Cox increased its stake in Eli Lilly and by 22,094.9% in the second quarter. Dodge & Cox now owns 5,991,952 shares of the company’s stock valued at $493,138,000 after purchasing an additional 5,964,955 shares in the last quarter. Renaissance Technologies LLC increased its stake in Eli Lilly and by 91.1% in the second quarter. Renaissance Technologies LLC now owns 5,694,905 shares of the company’s stock valued at $468,691,000 after purchasing an additional 2,714,505 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Eli Lilly and by 3.3% in the first quarter. Vanguard Group Inc. now owns 68,597,006 shares of the company’s stock valued at $5,769,694,000 after purchasing an additional 2,181,701 shares in the last quarter. 75.66% of the stock is owned by institutional investors and hedge funds.
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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