Investors 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. $66.05 million flowed into the stock on the tick-up and $48.17 million flowed out of the stock on the tick-down, for a money net flow of $17.88 million into the stock. Of all equities tracked, Eli Lilly and had the 38th highest net in-flow for the day. Eli Lilly and traded down ($0.38) for the day and closed at $76.85
Several research firms recently issued reports on LLY. Leerink Swann reissued an “outperform” rating and set a $105.00 price objective on shares of Eli Lilly and in a research note on Saturday, August 13th. Zacks Investment Research raised Eli Lilly and from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Friday, August 5th. Citigroup Inc. reissued a “buy” rating on shares of Eli Lilly and in a research note on Wednesday, August 3rd. Argus lifted their price objective on Eli Lilly and from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Finally, BMO Capital Markets reissued a “buy” rating and set a $94.00 price objective on shares of Eli Lilly and in a research note on Wednesday, July 27th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Eli Lilly and has an average rating of “Buy” and an average target price of $96.58.
The firm has a market cap of $81.28 billion and a P/E ratio of 33.12. The stock’s 50-day moving average price is $80.39 and its 200 day moving average price is $76.26.
Eli Lilly and (NYSE:LLY) last issued its earnings results on Tuesday, July 26th. The company reported $0.86 earnings per share for the quarter, hitting the consensus estimate of $0.86. The firm earned $5.40 billion during the quarter, compared to the consensus estimate of $5.14 billion. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 EPS. Analysts forecast that Eli Lilly and Co. will post $3.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Monday, August 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, August 11th.
In other news, Director Jackson P. Tai bought 2,560 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was bought at an average price 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 approximately $3,386,486.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Melissa S. Barnes sold 992 shares of the company’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $73.77, for a total transaction of $73,179.84. Following the completion of the transaction, the senior vice president now directly owns 10,710 shares of the company’s stock, valued at approximately $790,076.70. The disclosure for this sale can be found here.
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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