Eli Lilly and Co. (LLY) Stock Rating Lowered by Atlantic Securities
Eli Lilly and Co. (NYSE:LLY) was downgraded by research analysts at Atlantic Securities from an “overweight” rating to a “neutral” rating in a note issued to investors on Friday.
LLY has been the subject of several other reports. Deutsche Bank AG reaffirmed a “buy” rating on shares of Eli Lilly and in a research report on Tuesday, September 20th. Leerink Swann reissued a “buy” rating and issued a $103.00 price objective on shares of Eli Lilly and in a research report on Sunday, October 9th. Jefferies Group reissued a “buy” rating and issued a $105.00 price objective on shares of Eli Lilly and in a research report on Wednesday, September 14th. Zacks Investment Research raised Eli Lilly and from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Thursday, October 20th. Finally, Goldman Sachs Group Inc. reissued a “buy” rating and issued a $95.00 price objective on shares of Eli Lilly and in a research report on Wednesday, October 26th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $108.34.
Shares of Eli Lilly and (NYSE:LLY) opened at 67.20 on Friday. The company’s 50-day moving average price is $76.26 and its 200 day moving average price is $77.88. Eli Lilly and has a 12-month low of $64.18 and a 12-month high of $88.16. The company has a market cap of $71.08 billion, a price-to-earnings ratio of 29.23 and a beta of 0.28.
Eli Lilly and (NYSE:LLY) last announced its earnings results on Tuesday, October 25th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by $0.08. The company had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $4.23 billion. Eli Lilly and had a return on equity of 23.71% and a net margin of 11.73%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 earnings per share. Equities analysts predict that Eli Lilly and will post $3.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Tuesday, November 15th will be paid a $0.51 dividend. The ex-dividend date is Thursday, November 10th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.04%. Eli Lilly and’s payout ratio is presently 88.70%.
In other news, insider Maria A. Crowe sold 2,248 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $81.37, for a total value of $182,919.76. Following the transaction, the insider now owns 94,319 shares in the company, valued at approximately $7,674,737.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of LLY. RWC Asset Management LLP boosted its stake in Eli Lilly and by 3.7% in the third quarter. RWC Asset Management LLP now owns 712,392 shares of the company’s stock worth $57,177,000 after buying an additional 25,429 shares during the period. ETRADE Capital Management LLC boosted its stake in Eli Lilly and by 37.7% in the third quarter. ETRADE Capital Management LLC now owns 12,904 shares of the company’s stock worth $1,036,000 after buying an additional 3,531 shares during the period. D.A. Davidson & CO. boosted its stake in Eli Lilly and by 53.1% in the third quarter. D.A. Davidson & CO. now owns 41,009 shares of the company’s stock worth $3,289,000 after buying an additional 14,215 shares during the period. Sheets Smith Wealth Management boosted its stake in Eli Lilly and by 28.8% in the third quarter. Sheets Smith Wealth Management now owns 3,801 shares of the company’s stock worth $305,000 after buying an additional 851 shares during the period. Finally, Piedmont Investment Advisors LLC bought a new stake in Eli Lilly and during the third quarter worth approximately $17,345,000. 73.93% of the stock is currently owned by 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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