Eli Lilly and’s (LLY) “Buy” Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets reaffirmed their buy rating on shares of Eli Lilly and Co. (NYSE:LLY) in a research report sent to investors on Monday morning. BMO Capital Markets currently has a $94.00 price objective on the stock.
A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Eli Lilly and from a hold rating to a buy rating and set a $89.00 price objective for the company in a research note on Tuesday, September 27th. Goldman Sachs Group Inc. upgraded Eli Lilly and from a neutral rating to a buy rating and upped their price objective for the stock from $89.00 to $95.00 in a research note on Tuesday, September 27th. Deutsche Bank AG restated a buy rating on shares of Eli Lilly and in a research note on Tuesday, September 20th. Jefferies Group restated a buy rating and set a $105.00 price objective on shares of Eli Lilly and in a research note on Wednesday, September 14th. Finally, JPMorgan Chase & Co. upgraded Eli Lilly and from a neutral rating to an overweight rating and upped their price objective for the stock from $92.00 to $95.00 in a research note on Thursday, September 8th. Two investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $97.16.
Shares of Eli Lilly and (NYSE:LLY) traded up 0.35% on Monday, reaching $81.28. The company’s stock had a trading volume of 139,918 shares. The stock has a market cap of $85.97 billion, a PE ratio of 35.03 and a beta of 0.17. The firm has a 50 day moving average price of $79.26 and a 200-day moving average price of $77.27. Eli Lilly and has a 12-month low of $67.88 and a 12-month high of $88.16.
Eli Lilly and (NYSE:LLY) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.86. The firm earned $5.40 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Eli Lilly and had a return on equity of 23.99% and a net margin of 11.97%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. Equities research analysts expect that Eli Lilly and will post $3.59 EPS for the current year.
In other Eli Lilly and news, Director Jackson P. Tai purchased 5,773 shares of the stock in a transaction on Monday, August 15th. The shares were bought at an average price of $80.43 per share, for a total transaction of $464,322.39. Following the completion of the transaction, the director now owns 42,306 shares of the company’s stock, valued at approximately $3,402,671.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 225,000 shares of the stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $79.14, for a total value of $17,806,500.00. Following the transaction, the insider now owns 126,442,509 shares in the company, valued at approximately $10,006,660,162.26. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Iowa State Bank acquired a new position in shares of Eli Lilly and during the second quarter worth about $104,000. PineBridge Investments L.P. increased its position in Eli Lilly and by 208.6% in the second quarter. PineBridge Investments L.P. now owns 1,361 shares of the company’s stock valued at $108,000 after buying an additional 920 shares during the period. Cribstone Capital Management LLC purchased a new position in Eli Lilly and during the second quarter valued at $117,000. Coconut Grove Bank increased its position in Eli Lilly and by 3.3% in the second quarter. Coconut Grove Bank now owns 1,550 shares of the company’s stock valued at $122,000 after buying an additional 50 shares during the period. Finally, Physicians Financial Services Inc. increased its position in Eli Lilly and by 11.2% in the second quarter. Physicians Financial Services Inc. now owns 1,638 shares of the company’s stock valued at $129,000 after buying an additional 165 shares during the period. Institutional investors own 74.96% 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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