Traders Buy Eli Lilly and Co. (LLY) on Weakness
Investors purchased shares of Eli Lilly and Co. (NYSE:LLY) on weakness during trading on Monday. $55.08 million flowed into the stock on the tick-up and $36.35 million flowed out of the stock on the tick-down, for a money net flow of $18.73 million into the stock. Of all companies tracked, Eli Lilly and had the 17th highest net in-flow for the day. Eli Lilly and traded down ($0.27) for the day and closed at $79.95
A number of research analysts have issued reports on LLY shares. Vetr upgraded shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $73.90 target price on the stock in a research report on Monday, March 21st. BMO Capital Markets reaffirmed a “buy” rating and set a $95.00 price target on shares of Eli Lilly and in a report on Wednesday, March 23rd. Deutsche Bank AG reaffirmed a “buy” rating on shares of Eli Lilly and in a report on Sunday, March 27th. Zacks Investment Research raised shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Tuesday, March 29th. Finally, Leerink Swann reaffirmed an “outperform” rating on shares of Eli Lilly and in a report on Tuesday, April 5th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Eli Lilly and presently has an average rating of “Buy” and an average target price of $95.10.
The company has a market capitalization of $84.74 billion and a price-to-earnings ratio of 36.84. The company has a 50 day moving average price of $76.29 and a 200-day moving average price of $75.81.
Eli Lilly and (NYSE:LLY) last released its quarterly earnings results on Tuesday, April 26th. The company reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.02. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.82 billion. Eli Lilly and’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 earnings per share. On average, equities analysts predict that Eli Lilly and Co. will post $3.57 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Shareholders 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 2.55%.
In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $79.54, for a total value of $16,703,400.00. Following the completion of the sale, the insider now directly owns 126,220,804 shares in the company, valued at approximately $10,039,602,750.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Alfonso G. Zulueta sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $76.27, for a total transaction of $915,240.00. Following the completion of the sale, the senior vice president now owns 45,101 shares of the company’s stock, valued at $3,439,853.27. The disclosure for this sale can be found here.
Several large investors have made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Eli Lilly and by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 59,913,179 shares of the company’s stock worth $5,048,284,000 after buying an additional 1,552,428 shares during the last quarter. WBI Investments Inc. raised its stake in shares of Eli Lilly and by 14,739.0% in the fourth quarter. WBI Investments Inc. now owns 765,988 shares of the company’s stock worth $64,542,000 after buying an additional 760,826 shares during the last quarter. BHF Kleinwort Benson Group S.A. acquired a new stake in shares of Eli Lilly and during the fourth quarter worth $39,409,000. Morgan Stanley raised its stake in Eli Lilly and by 15.1% in the fourth quarter. Morgan Stanley now owns 3,510,398 shares of the company’s stock worth $295,785,000 after buying an additional 459,759 shares in the last quarter. Finally, IronBridge Capital Management LP purchased a new stake in Eli Lilly and during the fourth quarter worth approximately $29,723,000.
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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