Investors Buy Shares of Eli Lilly and Company (LLY) on Weakness

Traders bought shares of Eli Lilly and Company (NYSE:LLY) on weakness during trading hours on Monday. $90.08 million flowed into the stock on the tick-up and $51.41 million flowed out of the stock on the tick-down, for a money net flow of $38.67 million into the stock. Of all companies tracked, Eli Lilly and had the 14th highest net in-flow for the day. Eli Lilly and traded down ($0.60) for the day and closed at $85.95

Several research firms have recently issued reports on LLY. Berenberg Bank reaffirmed a “buy” rating and issued a $98.00 price objective on shares of Eli Lilly and in a research note on Friday, August 4th. Oppenheimer Holdings, Inc. lowered Eli Lilly and from an “outperform” rating to a “market perform” rating and set a $90.00 price target for the company. in a research note on Wednesday, July 26th. BMO Capital Markets reissued an “underperform” rating and set a $73.00 price target on shares of Eli Lilly and in a research note on Wednesday, July 26th. Jefferies Group LLC reissued a “buy” rating and set a $89.00 price target on shares of Eli Lilly and in a research note on Thursday, August 31st. Finally, Leerink Swann lowered Eli Lilly and from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $93.00 to $90.00 in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. Eli Lilly and presently has an average rating of “Hold” and an average target price of $88.97.

The company has a market cap of $90.79 billion, a price-to-earnings ratio of 37.24 and a beta of 0.34. The stock’s 50-day moving average price is $83.56 and its 200 day moving average price is $82.19.

Eli Lilly and (NYSE:LLY) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.06. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. Eli Lilly and had a return on equity of 28.71% and a net margin of 11.12%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. Analysts anticipate that Eli Lilly and Company will post $4.16 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Tuesday, November 14th. Eli Lilly and’s payout ratio is currently 90.04%.

In other news, major shareholder Lilly Endowment Inc sold 180,000 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $81.06, for a total value of $14,590,800.00. Following the sale, the insider now directly owns 123,865,804 shares in the company, valued at $10,040,562,072.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 990,000 shares of company stock worth $82,949,650. Insiders own 0.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in LLY. Acrospire Investment Management LLC raised its stake in shares of Eli Lilly and by 16.7% in the second quarter. Acrospire Investment Management LLC now owns 1,399 shares of the company’s stock valued at $115,000 after acquiring an additional 200 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new stake in shares of Eli Lilly and in the second quarter valued at $128,000. San Francisco Sentry Investment Group CA acquired a new stake in shares of Eli Lilly and in the second quarter valued at $129,000. Heritage Trust Co acquired a new stake in shares of Eli Lilly and in the first quarter valued at $135,000. Finally, Point72 Asia Hong Kong Ltd raised its stake in shares of Eli Lilly and by 237.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,761 shares of the company’s stock valued at $148,000 after acquiring an additional 1,239 shares in the last quarter. Institutional investors and hedge funds own 75.53% of the company’s stock.

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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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