Eli Lilly and Co. (LLY) Downgraded to Hold at Zacks Investment Research
According to Zacks, “Eli Lilly’s presence across a wide range of therapeutic areas and its animal health business provide support in the face of generic competition. Lilly expects to launch 20 new products in a 10 year time-frame ranging from 2014 to 2023 and could launch at least two new indications/line extensions on an average every year. Products like Humalog, Trajenta, Cialis, Forteo, Strattera, Erbitux, and the animal health segment should drive growth while revenues from new products like Cyramza, Trulicity, Jardiance, Portrazza and Basaglar will pick up. However, Alimta will continue to be impacted by competition. Headwinds include competition from immuno-oncology agents as well as loss of exclusivity for many drugs in the emerging markets. Estimates have been mostly stable ahead of the company’s Q3 earnings release. The company has a positive record of earnings surprises in recent quarters.”
Several other analysts have also issued reports on LLY. BMO Capital Markets restated a buy rating and issued a $94.00 price objective on shares of Eli Lilly and in a research note on Monday. Goldman Sachs Group Inc. upgraded Eli Lilly and from a neutral rating to a buy rating and upped their price objective for the company 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 issued 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 company from $92.00 to $95.00 in a research note on Thursday, September 8th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Eli Lilly and currently has a consensus rating of Buy and a consensus target price of $97.16.
Shares of Eli Lilly and (NYSE:LLY) opened at 81.75 on Wednesday. Eli Lilly and has a 52 week low of $67.88 and a 52 week high of $88.16. The firm has a market cap of $86.47 billion, a price-to-earnings ratio of 35.24 and a beta of 0.17. The company has a 50-day moving average price of $79.34 and a 200 day moving average price of $77.38.
Eli Lilly and (NYSE:LLY) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.86 EPS for the quarter, meeting the consensus estimate of $0.86. Eli Lilly and had a return on equity of 23.99% and a net margin of 11.97%. The firm earned $5.40 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts expect that Eli Lilly and will post $3.59 EPS for the current fiscal year.
In related news, Director Jackson P. Tai bought 2,560 shares of the business’s stock in a transaction on Friday, August 12th. The shares were purchased at an average cost of $80.42 per share, with a total value of $205,875.20. Following the acquisition, the director now owns 42,110 shares of the company’s stock, valued at $3,386,486.20. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $79.54, for a total value of $16,703,400.00. Following the transaction, the insider now directly owns 126,220,804 shares in the company, valued at $10,039,602,750.16. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Iowa State Bank acquired a new position in Eli Lilly and during the second quarter valued at $104,000. PineBridge Investments L.P. raised 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 acquired a new position in Eli Lilly and during the second quarter valued at $117,000. Coconut Grove Bank raised 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. raised 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. 74.96% of the stock is currently owned by hedge funds and other institutional investors.
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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