Eli Lilly and Company (LLY) Lowered to “Sell” at Vetr Inc.
Vetr cut shares of Eli Lilly and Company (NYSE:LLY) from a hold rating to a sell rating in a report released on Thursday morning. They currently have $74.30 target price on the stock.
Several other research analysts have also weighed in on the stock. Goldman Sachs Group, Inc. (The) reiterated a buy rating and set a $85.00 price objective (up from $82.00) on shares of Eli Lilly and Company in a report on Wednesday, December 21st. Credit Suisse Group reiterated a focus list rating and set a $87.00 price objective on shares of Eli Lilly and Company in a report on Monday, December 19th. Morgan Stanley upgraded shares of Eli Lilly and Company from an equal weight rating to an overweight rating and increased their price objective for the stock from $73.00 to $82.00 in a report on Friday, December 16th. BMO Capital Markets reiterated a hold rating and set a $64.00 price objective on shares of Eli Lilly and Company in a report on Wednesday, December 14th. Finally, Zacks Investment Research lowered shares of Eli Lilly and Company from a hold rating to a sell rating in a report on Monday, December 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $86.79.
Shares of Eli Lilly and Company (NYSE:LLY) traded up 0.32% on Thursday, hitting $77.40. 5,602,405 shares of the company were exchanged. The company has a 50-day moving average price of $71.42 and a 200 day moving average price of $77.17. The firm has a market cap of $81.87 billion, a P/E ratio of 33.67 and a beta of 0.25. Eli Lilly and Company has a 52-week low of $64.18 and a 52-week high of $84.80.
Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Tuesday, October 25th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by $0.08. Eli Lilly and Company had a return on equity of 23.71% and a net margin of 11.73%. The firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same period in the prior year, the business earned $0.89 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts predict that Eli Lilly and Company will post $3.54 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Wednesday, February 15th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, February 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.69%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $0.51. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 88.70%.
In other news, SVP Susan Mahony sold 20,242 shares of the firm’s stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $72.65, for a total transaction of $1,470,581.30. Following the completion of the sale, the senior vice president now owns 67,802 shares of the company’s stock, valued at $4,925,815.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Lilly Endowment Inc sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $72.59, for a total transaction of $14,518,000.00. Following the sale, the insider now directly owns 125,649,408 shares of the company’s stock, valued at approximately $9,120,890,526.72. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in LLY. Wells Fargo & Company MN increased its position in Eli Lilly and Company by 111.4% in the third quarter. Wells Fargo & Company MN now owns 3,763,125 shares of the company’s stock worth $302,027,000 after buying an additional 1,983,356 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Eli Lilly and Company during the third quarter worth approximately $152,910,000. Janus Capital Management LLC increased its position in Eli Lilly and Company by 15.9% in the second quarter. Janus Capital Management LLC now owns 10,021,381 shares of the company’s stock worth $789,162,000 after buying an additional 1,377,814 shares in the last quarter. Vanguard Group Inc. increased its position in Eli Lilly and Company by 2.2% in the second quarter. Vanguard Group Inc. now owns 63,236,677 shares of the company’s stock worth $4,979,889,000 after buying an additional 1,350,329 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in Eli Lilly and Company by 24.9% in the third quarter. TIAA CREF Investment Management LLC now owns 6,531,903 shares of the company’s stock worth $524,251,000 after buying an additional 1,302,546 shares in the last quarter. 73.90% of the stock is owned by institutional investors and hedge funds.
About Eli Lilly and Company
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.
To view Vetr’s full report, visit Vetr’s official website.
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