Investors Buy Eli Lilly and Co. (LLY) on Weakness
Traders purchased shares of Eli Lilly and Co. (NYSE:LLY) on weakness during trading hours on Friday. $66.05 million flowed into the stock on the tick-up and $48.17 million flowed out of the stock on the tick-down, for a money net flow of $17.88 million into the stock. Of all stocks tracked, Eli Lilly and had the 38th highest net in-flow for the day. Eli Lilly and traded down ($0.38) for the day and closed at $76.85
Several brokerages have issued reports on LLY. Citigroup Inc. reissued a “buy” rating on shares of Eli Lilly and in a research note on Wednesday, August 3rd. Argus raised their price objective on shares of Eli Lilly and from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Zacks Investment Research raised shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Friday, July 29th. BMO Capital Markets reissued a “buy” rating and issued a $94.00 price objective on shares of Eli Lilly and in a research note on Wednesday, July 27th. Finally, Leerink Swann reissued an “outperform” rating and issued a $105.00 price objective on shares of Eli Lilly and in a research note on Saturday, August 13th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $96.58.
The company has a market cap of $81.28 billion and a PE ratio of 33.12. The firm’s 50 day moving average price is $80.39 and its 200 day moving average price is $76.26.
Eli Lilly and (NYSE:LLY) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.86 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.86. During the same period in the previous year, the business posted $0.90 EPS. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.14 billion. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts predict that Eli Lilly and Co. will post $3.59 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Monday, August 15th will be given a dividend of $0.51 per share. 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 2.65%.
In other Eli Lilly and news, SVP Melissa S. Barnes sold 992 shares of the stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $73.77, for a total transaction of $73,179.84. Following the sale, the senior vice president now directly owns 10,710 shares in the company, valued at approximately $790,076.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Lilly Endowment Inc sold 240,000 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $82.87, for a total transaction of $19,888,800.00. Following the sale, the insider now owns 126,020,570 shares in the company, valued at $10,443,324,635.90. The disclosure for this sale can be found here.
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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