Eli Lilly and Company (LLY) Given “Buy” Rating at Jefferies Group LLC

Eli Lilly and Company (NYSE:LLY)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Group LLC in a report released on Thursday. They currently have a $96.00 target price on the stock, up from their prior target price of $93.00. Jefferies Group LLC’s price objective indicates a potential upside of 14.78% from the company’s current price.

The analysts wrote, “Date and time of first dissemination: July 17, 2017, 08:17 ET Date and time of production: July 17, 2017, 08:17 ET Target Price / Valuation Methodology: Mallinckrodt plc – MNK Our discounted cash flow (DCF) analysis leads us to a price target of $87/share for MNK shares. Our DCF considers our estimates through 2027, slowing growth through 2033 and a 10% terminal decline thereafter. In addition, we expect Mallinckrodt’s margin structure to remain somewhat consistent with our 2027 estimates. We estimate a weighted average cost of capital (WACC) of 11.4% which is in line with other companies in Mallinckrodt’s peer set due to the company’s manageable leverage and consistent cash generation potential.””

LLY has been the topic of a number of other reports. BMO Capital Markets set a $71.00 price objective on shares of Eli Lilly and and gave the company a “sell” rating in a research note on Tuesday, April 25th. Credit Suisse Group reissued a “buy” rating on shares of Eli Lilly and in a research note on Tuesday, March 21st. Barclays PLC increased their target price on shares of Eli Lilly and from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 7th. Zacks Investment Research lowered shares of Eli Lilly and from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Leerink Swann reissued an “outperform” rating on shares of Eli Lilly and in a research note on Monday, March 20th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $87.69.

Shares of Eli Lilly and (LLY) traded down 0.84% during trading on Thursday, hitting $83.64. 1,989,072 shares of the stock were exchanged. Eli Lilly and has a 52 week low of $64.18 and a 52 week high of $86.72. The firm’s 50 day moving average price is $80.49 and its 200-day moving average price is $79.95. The stock has a market cap of $88.35 billion, a P/E ratio of 40.44 and a beta of 0.35.

Eli Lilly and (NYSE:LLY) last posted its quarterly earnings data on Tuesday, April 25th. The company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.02. Eli Lilly and had a net margin of 10.13% and a return on equity of 26.64%. The company had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the firm posted $0.83 EPS. The company’s quarterly revenue was up 7.5% on a year-over-year basis. On average, analysts predict that Eli Lilly and will post $4.12 EPS for the current year.

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In other news, VP Michael J. Harrington sold 22,833 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $79.97, for a total value of $1,825,955.01. Following the completion of the sale, the vice president now owns 62,056 shares in the company, valued at $4,962,618.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Enrique A. Conterno sold 25,000 shares of the stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $82.76, for a total transaction of $2,069,000.00. Following the completion of the sale, the senior vice president now owns 114,217 shares of the company’s stock, valued at approximately $9,452,598.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 474,733 shares of company stock valued at $39,634,487. 0.20% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. Hudson Valley Investment Advisors Inc. ADV increased its stake in shares of Eli Lilly and by 0.5% in the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 55,558 shares of the company’s stock valued at $4,572,000 after buying an additional 270 shares in the last quarter. TNB Financial increased its stake in shares of Eli Lilly and by 7.5% in the second quarter. TNB Financial now owns 5,490 shares of the company’s stock valued at $452,000 after buying an additional 384 shares in the last quarter. Ronna Sue Cohen increased its stake in shares of Eli Lilly and by 0.4% in the second quarter. Ronna Sue Cohen now owns 2,466 shares of the company’s stock valued at $203,000 after buying an additional 9 shares in the last quarter. Norway Savings Bank increased its stake in shares of Eli Lilly and by 11.0% in the second quarter. Norway Savings Bank now owns 3,880 shares of the company’s stock valued at $319,000 after buying an additional 385 shares in the last quarter. Finally, CrestPoint Capital Management LLC increased its stake in shares of Eli Lilly and by 32.8% in the second quarter. CrestPoint Capital Management LLC now owns 16,200 shares of the company’s stock valued at $1,333,000 after buying an additional 4,000 shares in the last quarter. Institutional investors own 75.47% of the company’s stock.

Eli Lilly and Company Profile

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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