Eli Lilly and (LLY) Lifted to Buy at Argus
Argus upgraded shares of Eli Lilly and (NYSE:LLY) from a hold rating to a buy rating in a research note issued to investors on Friday, MarketBeat.com reports. Argus currently has $115.00 price target on the stock, up from their prior price target of $85.52.
Several other analysts have also recently commented on LLY. Jefferies Group restated a buy rating and set a $89.00 price objective on shares of Eli Lilly and in a research note on Monday, September 11th. Credit Suisse Group cut shares of Eli Lilly and from an outperform rating to a neutral rating and lifted their price objective for the company from $84.23 to $88.00 in a research note on Tuesday, October 10th. Piper Jaffray Companies restated an overweight rating and set a $105.00 price objective (up from $103.00) on shares of Eli Lilly and in a research note on Friday, September 8th. BMO Capital Markets set a $73.00 price objective on shares of Eli Lilly and and gave the company a sell rating in a research note on Tuesday, December 12th. Finally, Berenberg Bank restated a buy rating and set a $98.00 price objective on shares of Eli Lilly and in a research note on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $92.14.
Eli Lilly and (NYSE:LLY) traded up $0.04 during mid-day trading on Friday, reaching $86.17. 1,600,000 shares of the company were exchanged, compared to its average volume of 3,250,000. The firm has a market cap of $94,880.00, a PE ratio of 41.03, a PEG ratio of 1.62 and a beta of 0.35. The company has a quick ratio of 1.03, a current ratio of 1.38 and a debt-to-equity ratio of 0.66. Eli Lilly and has a one year low of $74.00 and a one year high of $89.09.
Eli Lilly and (NYSE:LLY) last released its earnings results on Tuesday, October 24th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Eli Lilly and had a net margin of 9.90% and a return on equity of 30.27%. Eli Lilly and’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the business earned $0.88 EPS. sell-side analysts anticipate that Eli Lilly and will post 4.22 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 2.61%. This is a positive change from Eli Lilly and’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, February 14th. Eli Lilly and’s payout ratio is 99.05%.
In other news, SVP Alfonso G. Zulueta sold 2,003 shares of Eli Lilly and stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $83.67, for a total transaction of $167,591.01. Following the completion of the transaction, the senior vice president now directly owns 43,580 shares of the company’s stock, valued at approximately $3,646,338.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 200,000 shares of Eli Lilly and stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $88.20, for a total transaction of $17,640,000.00. Following the transaction, the insider now directly owns 123,084,104 shares of the company’s stock, valued at $10,856,017,972.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,088 shares of company stock valued at $22,041,236. Insiders own 0.20% of the company’s stock.
Large investors have recently bought and sold shares of the company. Acrospire Investment Management LLC increased its holdings in Eli Lilly and by 16.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,399 shares of the company’s stock worth $115,000 after acquiring an additional 200 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new stake in Eli Lilly and in the 2nd quarter worth $128,000. San Francisco Sentry Investment Group CA purchased a new stake in Eli Lilly and in the 2nd quarter worth $129,000. Willingdon Wealth Management purchased a new stake in Eli Lilly and in the 3rd quarter worth $138,000. Finally, Wealthcare Advisory Partners LLC purchased a new stake in Eli Lilly and in the 3rd quarter worth $142,000. 76.31% of the stock is owned by hedge funds and other institutional investors.
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Eli Lilly and Company Profile
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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