Eli Lilly and Co. (NYSE:LLY) was the recipient of a significant growth in short interest during the month of December. As of December 30th, there was short interest totalling 10,757,080 shares, a growth of 40.9% from the December 15th total of 7,632,485 shares. Based on an average daily volume of 5,415,045 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.1% of the shares of the company are short sold.
Eli Lilly and (NYSE:LLY) opened at 76.81 on Friday. The company’s 50-day moving average price is $71.60 and its 200 day moving average price is $77.19. Eli Lilly and has a 52 week low of $64.18 and a 52 week high of $84.80. The company has a market cap of $81.24 billion, a PE ratio of 33.41 and a beta of 0.25.
Eli Lilly and (NYSE:LLY) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.88 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by $0.08. The company earned $5.19 billion during the quarter, compared to analyst estimates of $4.23 billion. Eli Lilly and had a net margin of 11.73% and a return on equity of 23.71%. Eli Lilly and’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS. On average, analysts anticipate that Eli Lilly and will post $3.55 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Wednesday, February 15th will be paid a $0.52 dividend. This is a positive change from Eli Lilly and’s previous quarterly dividend of $0.51. The ex-dividend date is Monday, February 13th. This represents a $2.08 annualized dividend and a yield of 2.71%. Eli Lilly and’s payout ratio is currently 88.70%.
In related news, SVP Susan Mahony sold 20,242 shares of the firm’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $72.65, for a total transaction of $1,470,581.30. Following the transaction, the senior vice president now directly owns 67,802 shares in the company, valued at $4,925,815.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R David Hoover acquired 500 shares of Eli Lilly and stock in a transaction that occurred on Friday, December 16th. The shares were purchased at an average price of $71.85 per share, for a total transaction of $35,925.00. Following the completion of the purchase, the director now directly owns 33,504 shares of the company’s stock, valued at $2,407,262.40. The disclosure for this purchase can be found here. Insiders have sold 222,335 shares of company stock worth $16,160,689 over the last 90 days. 0.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Banced Corp raised its stake in shares of Eli Lilly and by 3.0% in the second quarter. Banced Corp now owns 3,832 shares of the company’s stock valued at $321,000 after buying an additional 111 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of Eli Lilly and by 1.8% in the second quarter. LS Investment Advisors LLC now owns 35,142 shares of the company’s stock valued at $2,767,000 after buying an additional 614 shares in the last quarter. Parametrica Management Ltd bought a new stake in shares of Eli Lilly and during the second quarter valued at approximately $217,000. Gilman Hill Asset Management LLC raised its stake in shares of Eli Lilly and by 28.7% in the second quarter. Gilman Hill Asset Management LLC now owns 4,710 shares of the company’s stock valued at $371,000 after buying an additional 1,050 shares in the last quarter. Finally, Parkwood LLC raised its stake in shares of Eli Lilly and by 40.5% in the second quarter. Parkwood LLC now owns 47,111 shares of the company’s stock valued at $3,710,000 after buying an additional 13,574 shares in the last quarter. 73.90% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on LLY shares. Goldman Sachs Group Inc. raised Eli Lilly and from a “neutral” rating to a “buy” rating and increased their target price for the stock from $89.00 to $95.00 in a research report on Tuesday, September 27th. BMO Capital Markets reaffirmed a “buy” rating and issued a $94.00 target price on shares of Eli Lilly and in a research report on Monday, October 3rd. Zacks Investment Research raised Eli Lilly and from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Tuesday, September 27th. Citigroup Inc. reaffirmed a “buy” rating on shares of Eli Lilly and in a research report on Tuesday, November 8th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Eli Lilly and in a research report on Friday, October 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $87.74.
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.