According to Zacks, “Eli Lilly’s presence across a wide range of therapeutic areas and its animal health business provide support in the face of generic competition. Lilly expects to launch 20 new products in a 10 year time-frame ranging from 2014 to 2023 and could launch at least two new indications/line extensions on an average every year. Products like Humalog, Trajenta, Cialis, Forteo, Strattera, Erbitux, and the animal health segment should drive growth while revenues from new products like Cyramza, Trulicity, Jardiance, Portrazza and Basaglar will pick up. Moreover, Lilly expects to resume annual dividend increases starting Dec 2016 and to return excess cash through share buybacks. However, Alimta will continue to be impacted by competition. Headwinds include competition from immuno-oncology agents as well as loss of exclusivity for many drugs in the emerging markets.”
A number of other research analysts have also recently issued reports on the stock. Jefferies Group lifted their price objective on shares of Eli Lilly and from $100.00 to $105.00 and gave the company a buy rating in a report on Thursday, July 14th. Goldman Sachs Group Inc. upgraded shares of Eli Lilly and from a neutral rating to a buy rating and lifted their price objective for the company from $89.00 to $95.00 in a report on Tuesday, September 27th. Argus lifted their price objective on shares of Eli Lilly and from $90.00 to $95.00 and gave the company a buy rating in a report on Tuesday, August 2nd. SunTrust Banks Inc. reiterated a buy rating on shares of Eli Lilly and in a report on Wednesday, June 15th. Finally, Credit Suisse Group AG reiterated a buy rating and set a $91.00 price objective on shares of Eli Lilly and in a report on Wednesday, July 6th. Two research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $97.16.
Eli Lilly and (NYSE:LLY) opened at 80.26 on Tuesday. The company has a 50-day moving average of $79.23 and a 200-day moving average of $77.11. Eli Lilly and has a 52 week low of $67.88 and a 52 week high of $88.48. The firm has a market cap of $84.89 billion, a price-to-earnings ratio of 34.59 and a beta of 0.17.
Eli Lilly and (NYSE:LLY) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.86 EPS for the quarter, hitting analysts’ consensus estimates of $0.86. The business earned $5.40 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Eli Lilly and had a net margin of 11.97% and a return on equity of 23.99%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $0.90 earnings per share. Equities research analysts forecast that Eli Lilly and will post $3.59 earnings per share for the current fiscal year.
In related news, major shareholder Lilly Endowment Inc sold 225,000 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $79.14, for a total transaction of $17,806,500.00. Following the completion of the transaction, the insider now owns 126,442,509 shares of the company’s stock, valued at $10,006,660,162.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jackson P. Tai acquired 2,560 shares of Eli Lilly and stock in a transaction that occurred on Friday, August 12th. The shares were purchased at an average cost of $80.42 per share, with a total value of $205,875.20. Following the purchase, the director now owns 42,110 shares of the company’s stock, valued at approximately $3,386,486.20. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Iowa State Bank bought a new position in Eli Lilly and during the second quarter worth approximately $104,000. PineBridge Investments L.P. boosted its position in Eli Lilly and by 208.6% in the second quarter. PineBridge Investments L.P. now owns 1,361 shares of the company’s stock worth $108,000 after buying an additional 920 shares in the last quarter. Cribstone Capital Management LLC bought a new position in Eli Lilly and during the second quarter worth approximately $117,000. Coconut Grove Bank boosted its position in Eli Lilly and by 3.3% in the second quarter. Coconut Grove Bank now owns 1,550 shares of the company’s stock worth $122,000 after buying an additional 50 shares in the last quarter. Finally, Physicians Financial Services Inc. boosted its position in Eli Lilly and by 11.2% in the second quarter. Physicians Financial Services Inc. now owns 1,638 shares of the company’s stock worth $129,000 after buying an additional 165 shares in the last quarter. 74.96% of the stock is owned by institutional investors and hedge funds.
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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