Traders Sell Eli Lilly and (LLY) on Strength on Analyst Downgrade

Investors sold shares of Eli Lilly and Co (NYSE:LLY) on strength during trading on Thursday after Bank of America lowered their price target on the stock from $88.00 to $86.00. $71.54 million flowed into the stock on the tick-up and $107.41 million flowed out of the stock on the tick-down, for a money net flow of $35.87 million out of the stock. Of all equities tracked, Eli Lilly and had the 0th highest net out-flow for the day. Eli Lilly and traded up $0.96 for the day and closed at $82.41

A number of other equities analysts have also commented on LLY. Cowen restated a “buy” rating and issued a $95.00 price target on shares of Eli Lilly and in a research report on Wednesday, October 4th. Goldman Sachs Group restated a “buy” rating and issued a $95.00 price target (up from $92.00) on shares of Eli Lilly and in a research report on Thursday, October 5th. Morgan Stanley set a $86.00 price target on shares of Eli Lilly and and gave the company a “hold” rating in a research report on Friday, October 6th. Credit Suisse Group lowered shares of Eli Lilly and from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $84.23 to $88.00 in a research report on Tuesday, October 10th. Finally, BMO Capital Markets boosted their price target on shares of Eli Lilly and from $71.00 to $73.00 and gave the company an “underperform” rating in a research report on Tuesday, October 10th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Eli Lilly and currently has an average rating of “Hold” and a consensus price target of $92.13.

In related news, major shareholder Lilly Endowment Inc sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $88.20, for a total transaction of $17,640,000.00. Following the completion of the sale, the insider now directly owns 123,084,104 shares of the company’s stock, valued at $10,856,017,972.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Susan Mahony sold 36,585 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $86.18, for a total transaction of $3,152,895.30. Following the sale, the senior vice president now directly owns 54,885 shares of the company’s stock, valued at $4,729,989.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,088 shares of company stock valued at $22,041,236. 0.20% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC increased its stake in 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 purchasing an additional 200 shares in the last quarter. MPS Loria Financial Planners LLC bought a new stake in Eli Lilly and in the second quarter valued at approximately $128,000. San Francisco Sentry Investment Group CA bought a new stake in Eli Lilly and in the second quarter valued at approximately $129,000. Front Row Advisors LLC bought a new stake in Eli Lilly and in the fourth quarter valued at approximately $137,000. Finally, Willingdon Wealth Management bought a new stake in Eli Lilly and in the third quarter valued at approximately $138,000. 76.53% of the stock is owned by institutional investors and hedge funds.

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.38. The company has a market cap of $90,740.00, a P/E ratio of -412.05, a P/E/G ratio of 1.67 and a beta of 0.35.

Eli Lilly and (NYSE:LLY) last issued its earnings results on Wednesday, January 31st. The company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.06. Eli Lilly and had a net margin of 9.90% and a return on equity of 30.27%. The firm had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. sell-side analysts predict that Eli Lilly and Co will post 4.22 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Thursday, February 15th will be paid a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 2.73%. The ex-dividend date is Wednesday, February 14th. This is an increase from Eli Lilly and’s previous quarterly dividend of $0.52. Eli Lilly and’s dividend payout ratio is presently -1,040.00%.

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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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