Traders Buy Eli Lilly and Company (LLY) on Weakness
Investors purchased shares of Eli Lilly and Company (NYSE:LLY) on weakness during trading on Friday. $182.78 million flowed into the stock on the tick-up and $39.88 million flowed out of the stock on the tick-down, for a money net flow of $142.90 million into the stock. Of all stocks tracked, Eli Lilly and had the 24th highest net in-flow for the day. Eli Lilly and traded down ($0.63) for the day and closed at $82.44
LLY has been the subject of several analyst reports. Sanford C. Bernstein reissued an “outperform” rating and set a $88.00 price target on shares of Eli Lilly and in a report on Sunday, May 21st. Jefferies Group LLC reissued a “buy” rating on shares of Eli Lilly and in a report on Tuesday, May 30th. TheStreet downgraded shares of Eli Lilly and from a “b+” rating to a “c” rating in a report on Wednesday, May 31st. BidaskClub raised shares of Eli Lilly and from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Zacks Investment Research downgraded shares of Eli Lilly and from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. Eli Lilly and has an average rating of “Hold” and a consensus price target of $88.27.
The company has a 50 day moving average of $80.89 and a 200 day moving average of $82.06. The firm has a market capitalization of $86.97 billion, a P/E ratio of 35.67 and a beta of 0.34.
Eli Lilly and (NYSE:LLY) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.06. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. Eli Lilly and had a net margin of 11.12% and a return on equity of 28.71%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. On average, equities analysts expect that Eli Lilly and Company will post $4.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Tuesday, August 15th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $2.08 dividend on an annualized basis and a yield of 2.52%. Eli Lilly and’s dividend payout ratio (DPR) is presently 90.04%.
In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $84.43, for a total value of $17,730,300.00. Following the completion of the transaction, the insider now owns 124,265,804 shares in the company, valued at approximately $10,491,761,831.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders sold 825,000 shares of company stock valued at $68,456,650. 0.20% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in LLY. Waldron LP raised its holdings in Eli Lilly and by 46.7% during the 1st quarter. Waldron LP now owns 4,948 shares of the company’s stock worth $415,000 after purchasing an additional 1,574 shares during the last quarter. 1ST Source Bank raised its holdings in Eli Lilly and by 2.7% during the 1st quarter. 1ST Source Bank now owns 48,065 shares of the company’s stock worth $4,042,000 after purchasing an additional 1,263 shares during the last quarter. First Midwest Bank Trust Division raised its holdings in Eli Lilly and by 21.0% during the 1st quarter. First Midwest Bank Trust Division now owns 54,373 shares of the company’s stock worth $4,573,000 after purchasing an additional 9,443 shares during the last quarter. Leavell Investment Management Inc. raised its holdings in Eli Lilly and by 1.4% during the 1st quarter. Leavell Investment Management Inc. now owns 4,827 shares of the company’s stock worth $406,000 after purchasing an additional 67 shares during the last quarter. Finally, Oakworth Capital Inc. raised its holdings in Eli Lilly and by 18.0% during the 1st quarter. Oakworth Capital Inc. now owns 6,694 shares of the company’s stock worth $563,000 after purchasing an additional 1,019 shares during the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.
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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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