Zacks Investment Research downgraded shares of Eli Lilly And Co (NYSE:LLY) from a buy rating to a hold rating in a research report released on Wednesday, May 23rd.
According to Zacks, “Lilly’s presence across a wide range of therapeutic areas provides support in the face of generic competition. Lilly’s new products like Trulicity, Taltz, Basaglar, Cyramza, Jardiance and Lartruvo have been driving revenues and the trend is expected to continue in 2018. Lilly expects to launch 20 new products by 2023, including at least two new indications/line extensions on an average every year. The decision to sell or spin-off the Animal Health segment, which has underperformed lately, is a prudent decision in our view. The stock has slightly outperformed the industry this year so far. However, competitive pressure on Lilly’s drugs is expected to rise this year. Challenges remain for the company in the form of upcoming loss of patent exclusivity for products like Cialis and the impact of generic competition for Strattera, Effient and Axiron. U.S. pricing access pressure will also remain a headwind in 2018.”
Several other research firms have also weighed in on LLY. Jefferies Financial Group set a $93.00 price target on Eli Lilly And Co and gave the company a buy rating in a research report on Monday, February 26th. BMO Capital Markets reaffirmed a hold rating and issued a $78.00 target price on shares of Eli Lilly And Co in a research report on Thursday, May 10th. ValuEngine lowered Eli Lilly And Co from a hold rating to a sell rating in a research report on Wednesday, May 2nd. Credit Suisse Group set a $82.00 price objective on Eli Lilly And Co and gave the company a hold rating in a report on Tuesday, May 15th. Finally, Bank of America lowered their price objective on Eli Lilly And Co from $88.00 to $86.00 and set a neutral rating on the stock in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $93.89.
Eli Lilly And Co (NYSE:LLY) last posted its quarterly earnings results on Tuesday, April 24th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.21. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.51 billion. Eli Lilly And Co had a return on equity of 35.37% and a net margin of 4.82%. Eli Lilly And Co’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 earnings per share. sell-side analysts expect that Eli Lilly And Co will post 5.15 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 8th. Investors of record on Thursday, May 17th were issued a dividend of $0.5625 per share. The ex-dividend date was Wednesday, May 16th. This represents a $2.25 dividend on an annualized basis and a yield of 2.61%. Eli Lilly And Co’s dividend payout ratio is 52.57%.
In other news, SVP Jeffrey N. Simmons sold 9,027 shares of Eli Lilly And Co stock in a transaction on Thursday, May 3rd. The stock was sold at an average price of $78.50, for a total value of $708,619.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Susan Mahony sold 22,544 shares of Eli Lilly And Co stock in a transaction on Monday, April 16th. The shares were sold at an average price of $80.09, for a total value of $1,805,548.96. Following the completion of the sale, the senior vice president now directly owns 45,652 shares of the company’s stock, valued at $3,656,268.68. The disclosure for this sale can be found here. Insiders have sold a total of 810,464 shares of company stock valued at $67,389,555 over the last ninety days. Insiders own 0.11% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rikoon Group LLC boosted its position in shares of Eli Lilly And Co by 30.5% in the 1st quarter. Rikoon Group LLC now owns 4,274 shares of the company’s stock worth $323,000 after purchasing an additional 999 shares during the last quarter. Chesapeake Wealth Management bought a new position in shares of Eli Lilly And Co in the 1st quarter worth $730,000. Suntrust Banks Inc. boosted its position in shares of Eli Lilly And Co by 13.8% in the 1st quarter. Suntrust Banks Inc. now owns 220,726 shares of the company’s stock worth $17,075,000 after purchasing an additional 26,798 shares during the last quarter. BKD Wealth Advisors LLC bought a new position in shares of Eli Lilly And Co in the 1st quarter worth $4,725,000. Finally, Amalgamated Bank boosted its position in shares of Eli Lilly And Co by 10.9% in the 1st quarter. Amalgamated Bank now owns 143,030 shares of the company’s stock worth $11,066,000 after purchasing an additional 14,002 shares during the last quarter. 76.09% of the stock is owned by institutional investors.
About Eli Lilly And Co
Eli Lilly and Company discovers, develops, manufactures, and markets pharmaceutical products worldwide. The company operates through two segments, Human Pharmaceutical Products and Animal Health Products. It offers endocrinology products for the treatment of diabetes; osteoporosis in postmenopausal women and men; and human growth hormone deficiency and pediatric growth conditions.
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