Investors Sell Eli Lilly and Co. (LLY) on Strength (LLY)
Traders sold shares of Eli Lilly and Co. (NYSE:LLY) on strength during trading hours on Friday. $32.89 million flowed into the stock on the tick-up and $50.67 million flowed out of the stock on the tick-down, for a money net flow of $17.78 million out of the stock. Of all equities tracked, Eli Lilly and had the 0th highest net out-flow for the day. Eli Lilly and traded up $0.23 for the day and closed at $78.24
LLY has been the subject of a number of research analyst reports. Leerink Swann reduced their target price on Eli Lilly and from $101.00 to $96.00 and set an “outperform” rating for the company in a report on Monday, May 2nd. Jefferies Group reissued a “buy” rating and issued a $100.00 target price on shares of Eli Lilly and in a report on Friday, May 13th. Credit Suisse Group AG reissued a “buy” rating on shares of Eli Lilly and in a report on Thursday, May 26th. TheStreet raised Eli Lilly and from a “hold” rating to a “buy” rating in a report on Friday, May 27th. Finally, Morgan Stanley reissued a “hold” rating and issued a $88.00 target price on shares of Eli Lilly and in a report on Saturday, June 4th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Eli Lilly and presently has an average rating of “Buy” and an average price target of $96.58.
The stock has a market cap of $82.75 billion and a P/E ratio of 33.72. The company has a 50 day moving average price of $80.68 and a 200-day moving average price of $76.10.
Eli Lilly and (NYSE:LLY) last issued its earnings results on Tuesday, July 26th. The company reported $0.86 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.86. The firm earned $5.40 billion during the quarter, compared to analysts’ expectations of $5.14 billion. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $0.90 EPS. Analysts anticipate that Eli Lilly and Co. will post $3.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Monday, August 15th will be paid 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 yield of 2.61%.
In related news, Director Jackson P. Tai purchased 5,773 shares of the business’s stock in a transaction on Monday, August 15th. The shares were bought at an average cost of $80.43 per share, with a total value of $464,322.39. Following the transaction, the director now owns 42,306 shares of the company’s stock, valued at $3,402,671.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Melissa S. Barnes sold 992 shares of the stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $73.77, for a total value of $73,179.84. Following the sale, the senior vice president now directly owns 10,710 shares in the company, valued at $790,076.70. The disclosure for this sale can be found here.
Other large investors recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its stake in shares of Eli Lilly and by 3.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,586,902 shares of the company’s stock valued at $302,233,000 after buying an additional 129,362 shares in the last quarter. King Luther Capital Management Corp increased its stake in shares of Eli Lilly and by 1.4% in the fourth quarter. King Luther Capital Management Corp now owns 186,246 shares of the company’s stock valued at $15,693,000 after buying an additional 2,562 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Eli Lilly and during the fourth quarter valued at $4,539,000. American International Group Inc. increased its stake in shares of Eli Lilly and by 3.2% in the fourth quarter. American International Group Inc. now owns 350,071 shares of the company’s stock valued at $29,497,000 after buying an additional 10,995 shares in the last quarter. Finally, Airain ltd bought a new stake in shares of Eli Lilly and during the fourth quarter valued at $1,766,000.
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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