Piper Jaffray Companies Reaffirms Overweight Rating for Eli Lilly and Company (LLY)
Piper Jaffray Companies reiterated their overweight rating on shares of Eli Lilly and Company (NYSE:LLY) in a research report sent to investors on Friday morning. Piper Jaffray Companies currently has a $105.00 price objective on the stock, up from their prior price objective of $103.00.
A number of other analysts have also recently weighed in on the company. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and issued a $92.00 price target on shares of Eli Lilly and in a research report on Tuesday, May 16th. Zacks Investment Research raised Eli Lilly and from a hold rating to a buy rating and set a $94.00 price target for the company in a research report on Monday, July 17th. Jefferies Group LLC reaffirmed a buy rating on shares of Eli Lilly and in a research report on Tuesday, May 30th. Oppenheimer Holdings, Inc. cut Eli Lilly and from an outperform rating to a market perform rating and set a $90.00 price target for the company. in a research report on Wednesday, July 26th. Finally, TheStreet cut Eli Lilly and from a b+ rating to a c rating in a research report on Wednesday, May 31st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $88.07.
Shares of Eli Lilly and (NYSE LLY) opened at 82.63 on Friday. The stock has a market capitalization of $87.17 billion, a P/E ratio of 35.76 and a beta of 0.34. Eli Lilly and has a one year low of $64.18 and a one year high of $86.72. The company’s 50 day moving average price is $80.88 and its 200 day moving average price is $82.05.
Eli Lilly and (NYSE:LLY) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.06. Eli Lilly and had a return on equity of 28.71% and a net margin of 11.12%. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts expect that Eli Lilly and will post $4.16 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Tuesday, August 15th were issued a $0.52 dividend. The ex-dividend date was Friday, August 11th. This represents a $2.08 annualized dividend and a yield of 2.52%. Eli Lilly and’s dividend payout ratio (DPR) is 90.04%.
In other Eli Lilly and news, major shareholder Lilly Endowment Inc sold 180,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $81.06, for a total value of $14,590,800.00. Following the completion of the transaction, the insider now owns 123,865,804 shares of the company’s stock, valued at approximately $10,040,562,072.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 825,000 shares of company stock valued at $68,456,650. Insiders own 0.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Acrospire Investment Management LLC grew its stake in shares of Eli Lilly and by 16.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,399 shares of the company’s stock valued at $115,000 after purchasing an additional 200 shares during the period. San Francisco Sentry Investment Group CA bought a new stake in shares of Eli Lilly and in the 2nd quarter valued at approximately $129,000. Heritage Trust Co bought a new stake in shares of Eli Lilly and in the 1st quarter valued at approximately $135,000. Point72 Asia Hong Kong Ltd grew its stake in shares of Eli Lilly and by 237.4% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,761 shares of the company’s stock valued at $148,000 after purchasing an additional 1,239 shares during the period. Finally, Shine Investment Advisory Services Inc. bought a new stake in shares of Eli Lilly and in the 2nd quarter valued at approximately $148,000. 75.77% of the stock is owned by hedge funds and other institutional investors.
About Eli Lilly and
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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