Traders Buy Shares of Eli Lilly and Co. (LLY) on Weakness
Investors bought shares of Eli Lilly and Co. (NYSE:LLY) on weakness during trading on Friday. $78.25 million flowed into the stock on the tick-up and $50.87 million flowed out of the stock on the tick-down, for a money net flow of $27.38 million into the stock. Of all companies tracked, Eli Lilly and had the 18th highest net in-flow for the day. Eli Lilly and traded down ($0.72) for the day and closed at $79.06
Several research analysts have recently issued reports on LLY shares. TheStreet upgraded shares of Eli Lilly and from a “hold” rating to a “buy” rating in a research note on Friday, May 27th. Credit Suisse Group AG restated a “buy” rating on shares of Eli Lilly and in a research report on Thursday, May 26th. Jefferies Group restated a “buy” rating and set a $100.00 price objective on shares of Eli Lilly and in a research report on Friday, May 13th. Zacks Investment Research upgraded shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research report on Friday, July 29th. Finally, BMO Capital Markets restated a “buy” rating and set a $94.00 price objective on shares of Eli Lilly and in a research report on Wednesday, July 27th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Eli Lilly and currently has an average rating of “Buy” and a consensus price target of $96.35.
The firm has a market capitalization of $83.62 billion and a price-to-earnings ratio of 34.08. The company has a 50-day moving average price of $80.82 and a 200 day moving average price of $75.97.
Eli Lilly and (NYSE:LLY) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.86 EPS for the quarter, meeting the consensus estimate of $0.86. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. Equities analysts anticipate that Eli Lilly and Co. will post $3.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Monday, August 15th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, August 11th.
In other Eli Lilly and news, major shareholder Lilly Endowment Inc sold 200,000 shares of Eli Lilly and stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $75.12, for a total transaction of $15,024,000.00. Following the completion of the sale, the insider now directly owns 127,090,804 shares in the company, valued at approximately $9,547,061,196.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Melissa S. Barnes sold 992 shares of Eli Lilly and stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $73.77, for a total transaction of $73,179.84. Following the sale, the senior vice president now owns 10,710 shares of the company’s stock, valued at $790,076.70. The disclosure for this sale can be found here.
A number of hedge funds have made changes to their positions in LLY. Homrich & Berg boosted its stake 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 valued at $1,420,000 after buying an additional 317 shares during the last quarter. Navellier & Associates Inc boosted its position in Eli Lilly and by 21.6% in the fourth quarter. Navellier & Associates Inc now owns 17,411 shares of the company’s stock valued at $1,467,000 after buying an additional 3,091 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in Eli Lilly and by 1.2% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 20,579 shares of the company’s stock valued at $1,734,000 after buying an additional 239 shares in the last quarter. Airain ltd purchased a new position in Eli Lilly and during the fourth quarter valued at about $1,766,000. Finally, Home Federal Bank of Tennessee purchased a new position in Eli Lilly and during the fourth quarter valued at about $1,899,000.
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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