Traders Buy Shares of Eli Lilly and Co. (LLY) on Weakness
Traders purchased shares of Eli Lilly and Co. (NYSE:LLY) on weakness during trading hours on Friday. $51.32 million flowed into the stock on the tick-up and $29.80 million flowed out of the stock on the tick-down, for a money net flow of $21.52 million into the stock. Of all companies tracked, Eli Lilly and had the 19th highest net in-flow for the day. Eli Lilly and traded down ($0.34) for the day and closed at $80.22
LLY has been the topic of a number of recent research reports. Vetr lowered Eli Lilly and from a “strong-buy” rating to a “buy” rating and set a $85.08 target price on the stock. in a report on Monday, April 18th. TheStreet raised Eli Lilly and from a “hold” rating to a “buy” rating in a report on Friday, May 27th. Credit Suisse Group AG reissued a “buy” rating on shares of Eli Lilly and in a report on Thursday, May 26th. Jefferies Group reissued a “buy” rating and issued a $100.00 target price on shares of Eli Lilly and in a report on Friday, May 13th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $94.00 target price on shares of Eli Lilly and in a report on Wednesday, July 27th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $96.35.
The company’s 50-day moving average is $80.31 and its 200-day moving average is $75.97. The firm has a market capitalization of $84.85 billion and a PE ratio of 34.58.
Eli Lilly and (NYSE:LLY) last posted its earnings results on Tuesday, July 26th. The company reported $0.86 EPS for the quarter, meeting the consensus estimate of $0.86. During the same quarter in the prior year, the business earned $0.90 earnings per share. The business earned $5.40 billion during the quarter, compared to analyst estimates of $5.14 billion. The firm’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts predict that Eli Lilly and Co. will post $3.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Monday, August 15th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.54%. The ex-dividend date is Thursday, August 11th.
In related news, major shareholder Lilly Endowment Inc sold 205,000 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $82.94, for a total value of $17,002,700.00. Following the sale, the insider now directly owns 125,775,804 shares in the company, valued at approximately $10,431,845,183.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Melissa S. Barnes sold 992 shares of the firm’s stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $73.77, for a total value of $73,179.84. Following the completion of the sale, the senior vice president now owns 10,710 shares in the company, valued at $790,076.70. The disclosure for this sale can be found here.
A number of hedge funds have bought and sold shares of the stock. Hodges Capital Management Inc. boosted its stake in Eli Lilly and by 121.8% in the fourth quarter. Hodges Capital Management Inc. now owns 13,537 shares of the company’s stock valued at $1,141,000 after buying an additional 7,434 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in shares of Eli Lilly and by 0.5% in the fourth quarter. TCI Wealth Advisors Inc. now owns 14,349 shares of the company’s stock worth $1,209,000 after buying an additional 76 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Eli Lilly and by 7.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 15,280 shares of the company’s stock worth $1,287,000 after buying an additional 1,050 shares during the last quarter. Homrich & Berg raised its position in shares of Eli Lilly and by 1.9% in the fourth quarter. Homrich & Berg now owns 16,855 shares of the company’s stock worth $1,420,000 after buying an additional 317 shares during the last quarter. Finally, Navellier & Associates Inc raised its position in shares of Eli Lilly and by 21.6% in the fourth quarter. Navellier & Associates Inc now owns 17,411 shares of the company’s stock worth $1,467,000 after buying an additional 3,091 shares during the last quarter.
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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