BMO Capital Markets Raises Eli Lilly and Company (LLY) Price Target to $73.00
Eli Lilly and Company (NYSE:LLY) had its price objective lifted by BMO Capital Markets from $71.00 to $73.00 in a research report sent to investors on Tuesday morning. BMO Capital Markets currently has an underperform rating on the stock.
A number of other equities analysts also recently issued reports on the stock. Credit Suisse Group downgraded shares of Eli Lilly and from an outperform rating to a neutral rating and increased their price target for the company from $84.23 to $88.00 in a report on Tuesday. Morgan Stanley set a $86.00 target price on shares of Eli Lilly and and gave the company a hold rating in a report on Friday, October 6th. Goldman Sachs Group, Inc. (The) restated a buy rating and set a $95.00 target price (up from $92.00) on shares of Eli Lilly and in a report on Thursday, October 5th. Cowen and Company restated a buy rating and set a $95.00 target price on shares of Eli Lilly and in a report on Wednesday, October 4th. Finally, Jefferies Group LLC restated a buy rating and set a $89.00 target price on shares of Eli Lilly and in a report on Monday, September 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $88.97.
Shares of Eli Lilly and (LLY) opened at 86.55 on Tuesday. The firm has a market cap of $91.31 billion, a price-to-earnings ratio of 37.45 and a beta of 0.34. The stock has a 50 day moving average of $83.42 and a 200 day moving average of $82.23. Eli Lilly and has a 12 month low of $64.18 and a 12 month high of $89.09.
Eli Lilly and (NYSE:LLY) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.06. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. Eli Lilly and had a net margin of 11.12% and a return on equity of 28.71%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 EPS. On average, equities research analysts expect that Eli Lilly and will post $4.16 EPS for the current fiscal year.
In related news, major shareholder Lilly Endowment Inc sold 205,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $86.81, for a total value of $17,796,050.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 990,000 shares of company stock worth $82,949,650 over the last three months. Corporate insiders own 0.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LLY. BlackRock Inc. boosted its position in shares of Eli Lilly and by 2,628.5% in the first quarter. BlackRock Inc. now owns 62,260,488 shares of the company’s stock worth $5,236,731,000 after acquiring an additional 59,978,664 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Eli Lilly and by 7,093.5% in the second quarter. Janus Henderson Group PLC now owns 9,353,275 shares of the company’s stock worth $769,774,000 after acquiring an additional 9,223,251 shares during the last quarter. Dodge & Cox boosted its position in shares of Eli Lilly and by 22,094.9% in the second quarter. Dodge & Cox now owns 5,991,952 shares of the company’s stock worth $493,138,000 after acquiring an additional 5,964,955 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Eli Lilly and by 91.1% in the second quarter. Renaissance Technologies LLC now owns 5,694,905 shares of the company’s stock worth $468,691,000 after acquiring an additional 2,714,505 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Eli Lilly and by 3.3% in the first quarter. Vanguard Group Inc. now owns 68,597,006 shares of the company’s stock worth $5,769,694,000 after acquiring an additional 2,181,701 shares during the last quarter. 75.72% of the stock is currently owned by institutional investors and hedge funds.
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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