Eli Lilly and (LLY) Sets New 12-Month Low at $75.50
Eli Lilly and Co (NYSE:LLY) shares hit a new 52-week low during trading on Thursday . The company traded as low as $75.50 and last traded at $76.18, with a volume of 4498367 shares trading hands. The stock had previously closed at $76.72.
A number of research analysts have commented on LLY shares. Argus upgraded shares of Eli Lilly and from a “hold” rating to a “buy” rating and increased their price target for the company from $85.52 to $115.00 in a research report on Friday, January 5th. BMO Capital Markets set a $73.00 price target on shares of Eli Lilly and and gave the company a “sell” rating in a research report on Tuesday, December 12th. Berenberg Bank reiterated a “buy” rating and set a $98.00 price target on shares of Eli Lilly and in a research report on Thursday, October 26th. Morgan Stanley increased their price target on shares of Eli Lilly and from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 21st. Finally, Zacks Investment Research cut shares of Eli Lilly and from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Eli Lilly and presently has an average rating of “Hold” and an average price target of $92.02.
The firm has a market capitalization of $81,712.27, a P/E ratio of -381.13, a price-to-earnings-growth ratio of 1.36 and a beta of 0.23. The company has a current ratio of 1.38, a quick ratio of 1.03 and a debt-to-equity ratio of 0.66.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Wednesday, February 14th. This is a positive change from Eli Lilly and’s previous quarterly dividend of $0.52. Eli Lilly and’s dividend payout ratio is -1,039.95%.
In other news, major shareholder Lilly Endowment Inc sold 200,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $88.20, for a total transaction of $17,640,000.00. Following the completion of the sale, the insider now owns 123,084,104 shares of the company’s stock, valued at $10,856,017,972.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Susan Mahony sold 36,585 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $86.18, for a total value of $3,152,895.30. Following the sale, the senior vice president now directly owns 54,885 shares of the company’s stock, valued at approximately $4,729,989.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 259,610 shares of company stock valued at $22,727,406. Insiders own 0.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Pathstone Family Office LLC lifted its stake in Eli Lilly and by 100.0% in the second quarter. Pathstone Family Office LLC now owns 58 shares of the company’s stock worth $4,774,000 after acquiring an additional 29 shares during the period. Vantage Financial Partners Ltd. Inc. purchased a new stake in Eli Lilly and in the second quarter worth $494,000. Gradient Investments LLC purchased a new stake in Eli Lilly and in the fourth quarter worth $103,000. Acrospire Investment Management LLC lifted its stake in Eli Lilly and by 16.7% in the second quarter. Acrospire Investment Management LLC now owns 1,399 shares of the company’s stock worth $115,000 after acquiring an additional 200 shares during the period. Finally, MPS Loria Financial Planners LLC purchased a new stake in Eli Lilly and in the second quarter worth $128,000. 76.45% of the stock is owned by 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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