Zacks Investment Research lowered shares of Eli Lilly And Co (NYSE:LLY) from a buy rating to a hold rating in a report issued on Wednesday morning.
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.”
A number of other equities analysts have also commented on the stock. Barclays set a $98.00 price target on shares of Eli Lilly And Co and gave the stock a buy rating in a report on Tuesday. Credit Suisse Group set a $82.00 price target on shares of Eli Lilly And Co and gave the stock a hold rating in a report on Tuesday, May 15th. BMO Capital Markets reissued a hold rating and issued a $78.00 price target on shares of Eli Lilly And Co in a report on Thursday, May 10th. ValuEngine lowered shares of Eli Lilly And Co from a hold rating to a sell rating in a report on Wednesday, May 2nd. Finally, HC Wainwright reissued a buy rating on shares of Eli Lilly And Co in a report on Wednesday, April 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. Eli Lilly And Co presently has a consensus rating of Hold and a consensus target price of $93.50.
Eli Lilly And Co (NYSE:LLY) last issued its quarterly earnings results on Tuesday, April 24th. The company reported $1.34 EPS for the quarter, topping the Zacks’ 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 net margin of 4.82% and a return on equity of 35.37%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 EPS. research analysts expect that Eli Lilly And Co will post 5.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 17th will be paid a $0.5625 dividend. The ex-dividend date is Wednesday, May 16th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.72%. Eli Lilly And Co’s dividend payout ratio (DPR) is 52.57%.
In other news, insider Donald A. Zakrowski sold 860 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $76.50, for a total value of $65,790.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Susan Mahony sold 22,544 shares of the stock in a transaction on Monday, April 16th. The shares were sold at an average price of $80.09, for a total transaction of $1,805,548.96. Following the sale, the senior vice president now directly owns 45,652 shares of the company’s stock, valued at approximately $3,656,268.68. The disclosure for this sale can be found here. Insiders sold a total of 360,596 shares of company stock valued at $29,260,282 in the last ninety days. 0.11% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Gradient Investments LLC purchased a new stake in Eli Lilly And Co during the 4th quarter valued at $103,000. Avestar Capital LLC purchased a new stake in Eli Lilly And Co during the 4th quarter valued at $100,000. Front Row Advisors LLC purchased a new stake in Eli Lilly And Co during the 4th quarter valued at $137,000. Stelac Advisory Services LLC purchased a new stake in Eli Lilly And Co during the 1st quarter valued at $134,000. Finally, Silvant Capital Management LLC purchased a new stake in Eli Lilly And Co during the 1st quarter valued at $150,000. 76.10% of the stock is owned by institutional investors and hedge funds.
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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