Investors Buy Shares of Eli Lilly and Co. (LLY) on Weakness
Traders purchased shares of Eli Lilly and Co. (NYSE:LLY) on weakness during trading hours on Friday. $122.40 million flowed into the stock on the tick-up and $52.04 million flowed out of the stock on the tick-down, for a money net flow of $70.36 million into the stock. Of all equities tracked, Eli Lilly and had the 19th highest net in-flow for the day. Eli Lilly and traded down ($0.37) for the day and closed at $80.22
LLY has been the topic of a number of analyst reports. TheStreet raised Eli Lilly and from a “hold” rating to a “buy” rating in a research note on Friday, May 27th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Eli Lilly and in a research note on Thursday, May 26th. Jefferies Group reaffirmed a “buy” rating and issued a $100.00 price target on shares of Eli Lilly and in a research note on Friday, May 13th. Zacks Investment Research raised Eli Lilly and from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Tuesday, March 29th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Eli Lilly and in a research note on Sunday, March 27th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $95.10.
The company has a market capitalization of $85.03 billion and a price-to-earnings ratio of 36.97. The company has a 50 day moving average price of $76.15 and a 200 day moving average price of $75.99.
Eli Lilly and (NYSE:LLY) last announced its quarterly earnings results on Tuesday, April 26th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.02. During the same quarter in the previous year, the company earned $0.87 EPS. The firm earned $4.87 billion during the quarter, compared to analyst estimates of $4.82 billion. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts expect that Eli Lilly and Co. will post $3.57 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Monday, August 15th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.54%.
In other news, SVP Alfonso G. Zulueta sold 12,000 shares of the firm’s stock in a transaction on Wednesday, April 27th. The stock was sold at an average price of $76.27, for a total value of $915,240.00. Following the completion of the sale, the senior vice president now owns 45,101 shares of the company’s stock, valued at approximately $3,439,853.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Melissa S. Barnes sold 992 shares of the firm’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $73.77, for a total value of $73,179.84. Following the completion of the sale, the senior vice president now directly owns 10,710 shares of the company’s stock, valued at approximately $790,076.70. The disclosure for this sale can be found here.
Several hedge funds have bought and sold shares of LLY. Vanguard Group Inc. boosted its stake in Eli Lilly and by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 59,913,179 shares of the company’s stock worth $5,048,284,000 after buying an additional 1,552,428 shares during the last quarter. WBI Investments Inc. boosted its stake in Eli Lilly and by 14,739.0% in the fourth quarter. WBI Investments Inc. now owns 765,988 shares of the company’s stock worth $64,542,000 after buying an additional 760,826 shares during the last quarter. BHF Kleinwort Benson Group S.A. acquired a new stake in Eli Lilly and during the fourth quarter worth $39,409,000. Morgan Stanley boosted its stake in Eli Lilly and by 15.1% in the fourth quarter. Morgan Stanley now owns 3,510,398 shares of the company’s stock worth $295,785,000 after buying an additional 459,759 shares during the last quarter. Finally, IronBridge Capital Management LP acquired a new stake in Eli Lilly and during the fourth quarter worth $29,723,000.
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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