Eli Lilly And Co (LLY) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Eli Lilly And Co (NYSE:LLY) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “Lilly’s new products like Trulicity, Taltz, Basaglar, Cyramza, Jardiance, Lartruvo and Verzenio are expected to drive revenues. Lilly expects to launch 20 new products by 2023, including at least two new indications/line extensions on average every year. Lilly is also having a strong year in terms of its pipeline with several positive late-stage data readouts and regulatory nods. The newly launched CGRP antibody, Emgality could emerge as a significant contributor to long-term growth. It has also added promising new assets through business development deals. The stock has also 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 generic competition for several drugs including Cialis and rising pricing pressure in the diabetes franchise.”

A number of other brokerages have also weighed in on LLY. TheStreet lowered shares of Eli Lilly And Co from a b rating to a c+ rating in a research report on Friday, August 24th. Guggenheim started coverage on shares of Eli Lilly And Co in a research report on Monday, October 8th. They set a buy rating for the company. Cantor Fitzgerald restated a buy rating and set a $128.00 target price on shares of Eli Lilly And Co in a research report on Wednesday, October 17th. Barclays restated an overweight rating and set a $112.00 target price (up previously from $107.00) on shares of Eli Lilly And Co in a research report on Tuesday, September 18th. Finally, Wolfe Research started coverage on shares of Eli Lilly And Co in a research report on Tuesday, October 23rd. They set a market perform rating and a $119.00 target price for the company. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Eli Lilly And Co has an average rating of Buy and an average target price of $111.53.

Shares of NYSE:LLY opened at $113.58 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.91 and a quick ratio of 1.53. Eli Lilly And Co has a fifty-two week low of $73.69 and a fifty-two week high of $119.84. The firm has a market cap of $122.71 billion, a P/E ratio of 26.54, a P/E/G ratio of 1.81 and a beta of 0.31.

Eli Lilly And Co (NYSE:LLY) last issued its earnings results on Tuesday, November 6th. The company reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.04. Eli Lilly And Co had a net margin of 1.85% and a return on equity of 42.84%. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.04 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. Eli Lilly And Co’s revenue for the quarter was up 7.1% on a year-over-year basis. Research analysts anticipate that Eli Lilly And Co will post 5.58 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Thursday, November 15th will be given a dividend of $0.5625 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $2.25 annualized dividend and a yield of 1.98%. Eli Lilly And Co’s dividend payout ratio (DPR) is currently 52.57%.

In other Eli Lilly And Co news, major shareholder Eli & Co Lilly sold 700,000 shares of the stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $14.00, for a total transaction of $9,800,000.00. Following the completion of the transaction, the insider now owns 3,148,647 shares in the company, valued at $44,081,058. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Alfonso G. Zulueta sold 6,000 shares of the stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $106.31, for a total transaction of $637,860.00. Following the transaction, the senior vice president now owns 55,224 shares of the company’s stock, valued at approximately $5,870,863.44. The disclosure for this sale can be found here. Insiders have sold 1,962,800 shares of company stock valued at $149,601,553 in the last quarter. 0.11% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. M Holdings Securities Inc. raised its stake in shares of Eli Lilly And Co by 16.4% in the third quarter. M Holdings Securities Inc. now owns 3,216 shares of the company’s stock valued at $345,000 after acquiring an additional 454 shares during the period. Lido Advisors LLC raised its stake in shares of Eli Lilly And Co by 16.1% in the third quarter. Lido Advisors LLC now owns 3,293 shares of the company’s stock valued at $353,000 after acquiring an additional 457 shares during the period. Gyroscope Capital Management Group LLC raised its stake in shares of Eli Lilly And Co by 0.5% in the third quarter. Gyroscope Capital Management Group LLC now owns 89,849 shares of the company’s stock valued at $10,334,000 after acquiring an additional 469 shares during the period. Bbva Compass Bancshares Inc. raised its stake in shares of Eli Lilly And Co by 5.3% in the third quarter. Bbva Compass Bancshares Inc. now owns 9,349 shares of the company’s stock valued at $1,003,000 after acquiring an additional 474 shares during the period. Finally, Pinnacle Associates Ltd. raised its stake in shares of Eli Lilly And Co by 0.9% in the third quarter. Pinnacle Associates Ltd. now owns 54,057 shares of the company’s stock valued at $5,801,000 after acquiring an additional 485 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly And Co Company Profile

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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