Zacks Investment Research upgraded shares of Eli Lilly and (NYSE:LLY) from a hold rating to a buy rating in a research report sent to investors on Tuesday. The firm currently has $85.00 price target on the stock.
According to Zacks, “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 between 2014 and 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 underperformed in 2017, is a prudent decision in our view. However, competitive pressure on Lilly’s drugs is expected to rise this year. Meanwhile, challenges remain for the company in the form of 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. Nontheless, estimates have gone up slightly ahead of the Q1 earnings release. Lilly has a positive record of earnings surprises in recent quarters.”
Other analysts have also issued reports about the stock. BMO Capital Markets set a $73.00 price objective on shares of Eli Lilly and and gave the stock a sell rating in a report on Tuesday, December 5th. Credit Suisse Group restated a hold rating and issued a $80.00 price objective on shares of Eli Lilly and in a report on Friday, February 2nd. TheStreet lowered shares of Eli Lilly and from a b rating to a c rating in a report on Monday, March 5th. Argus upgraded shares of Eli Lilly and from a hold rating to a buy rating and raised their price objective for the stock from $85.52 to $115.00 in a report on Friday, January 5th. Finally, Jefferies Group set a $100.00 price objective on shares of Eli Lilly and and gave the stock a buy rating in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $92.84.
Eli Lilly and (NYSE:LLY) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.06. Eli Lilly and had a negative net margin of 0.89% and a positive return on equity of 33.01%. The business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the business posted $0.95 earnings per share. Eli Lilly and’s quarterly revenue was up 7.0% compared to the same quarter last year. sell-side analysts predict that Eli Lilly and will post 4.87 earnings per share for the current year.
In other news, insider Donald A. Zakrowski sold 876 shares of Eli Lilly and stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $77.55, for a total transaction of $67,933.80. Following the completion of the transaction, the insider now directly owns 4,130 shares in the company, valued at $320,281.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeffrey N. Simmons sold 9,625 shares of Eli Lilly and stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $81.12, for a total transaction of $780,780.00. Following the transaction, the senior vice president now owns 152,120 shares of the company’s stock, valued at $12,339,974.40. The disclosure for this sale can be found here. Insiders have sold 15,261 shares of company stock valued at $1,225,085 over the last quarter. Company insiders own 0.11% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Eli Lilly and by 6.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 106,014 shares of the company’s stock valued at $8,954,000 after acquiring an additional 6,830 shares in the last quarter. Colonial Trust Advisors increased its position in shares of Eli Lilly and by 35.0% during the fourth quarter. Colonial Trust Advisors now owns 65,467 shares of the company’s stock valued at $5,529,000 after acquiring an additional 16,973 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in shares of Eli Lilly and by 7.8% during the fourth quarter. Xact Kapitalforvaltning AB now owns 200,443 shares of the company’s stock valued at $16,929,000 after acquiring an additional 14,586 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Eli Lilly and by 2.7% during the fourth quarter. Handelsbanken Fonder AB now owns 309,140 shares of the company’s stock valued at $26,110,000 after acquiring an additional 8,200 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Eli Lilly and by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 224,857 shares of the company’s stock valued at $18,991,000 after acquiring an additional 7,162 shares in the last quarter. Hedge funds and other institutional investors own 77.63% of the company’s stock.
About Eli Lilly and
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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