According to Zacks, “Lilly beat estimates for earnings in the first quarter. However, Lilly lowered its sales guidance for 2019. Revenue growth in 2019 is expected to be driven by higher demand for its newer drugs including Trulicity, Jardiance, Taltz, Verzenio and new migraine drug, Emgality as some older drugs like Cialis face generic competition. Lilly has made significant pipeline progress in the past year with several positive late-stage data readouts, multiple approvals and regulatory submissions. Lilly also added promising new pipeline assets through business development deals. The stock has outperformed the industry in the past year. However, competitive pressure on Lilly’s drugs is expected to rise in 2019. Generic competition for several drugs including Cialis, rising pricing pressure, currency headwinds and the impact of the failed Lartruvo study are expected to put pressure on the top line.”
Several other analysts also recently weighed in on the company. Cantor Fitzgerald reiterated a buy rating on shares of Eli Lilly And Co in a research note on Monday, February 4th. UBS Group dropped their price target on Eli Lilly And Co from $107.53 to $100.00 and set an average rating on the stock in a research note on Friday, February 8th. Bank of America set a $129.00 price target on Eli Lilly And Co and gave the company a hold rating in a research note on Thursday, March 21st. Citigroup set a $124.00 price target on Eli Lilly And Co and gave the company a hold rating in a research note on Tuesday, February 26th. Finally, JPMorgan Chase & Co. started coverage on Eli Lilly And Co in a research note on Tuesday, March 12th. They issued an overweight rating and a $140.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Eli Lilly And Co has a consensus rating of Buy and a consensus price target of $118.83.
Eli Lilly And Co (NYSE:LLY) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.01. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.12 billion. Eli Lilly And Co had a return on equity of 56.62% and a net margin of 26.13%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.31 EPS. As a group, analysts predict that Eli Lilly And Co will post 5.66 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $0.645 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.58 annualized dividend and a yield of 2.25%. Eli Lilly And Co’s dividend payout ratio (DPR) is presently 46.49%.
In other Eli Lilly And Co news, SVP Enrique A. Conterno sold 25,000 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $121.00, for a total value of $3,025,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $127.01, for a total value of $127,010.00. The disclosure for this sale can be found here. Insiders sold a total of 870,959 shares of company stock valued at $109,672,752 over the last quarter. 0.11% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Trust Department MB Financial Bank N A raised its stake in Eli Lilly And Co by 54.7% during the first quarter. Trust Department MB Financial Bank N A now owns 232 shares of the company’s stock worth $30,000 after acquiring an additional 82 shares during the period. Captrust Financial Advisors raised its holdings in Eli Lilly And Co by 0.4% in the 4th quarter. Captrust Financial Advisors now owns 21,627 shares of the company’s stock worth $2,503,000 after acquiring an additional 87 shares during the period. Bronfman E.L. Rothschild L.P. raised its holdings in Eli Lilly And Co by 1.6% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 5,543 shares of the company’s stock worth $641,000 after acquiring an additional 87 shares during the period. First Personal Financial Services raised its holdings in Eli Lilly And Co by 2.3% in the 4th quarter. First Personal Financial Services now owns 3,931 shares of the company’s stock worth $455,000 after acquiring an additional 89 shares during the period. Finally, Bailard Inc. raised its holdings in Eli Lilly And Co by 3.6% in the 4th quarter. Bailard Inc. now owns 2,672 shares of the company’s stock worth $309,000 after acquiring an additional 92 shares during the period. Institutional investors and hedge funds own 84.49% of the company’s stock.
About Eli Lilly And Co
Eli Lilly and Company discovers, develops, manufactures, and markets pharmaceutical products worldwide. The company operates in 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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