Eli Lilly's profit beats expectations thanks to demand for newer drugs

Final stage trial met its primary endpoint

The share price of Eli Lilly and Company (NYSE:LLY) was down -0.06% during the last day of trading, with a day high of 82.24. The stock exchanged hands with 4.63 million shares contrast to its average daily volume of 3.21 million shares. Eli Lilly and Co has a 12-month low of $64.18 and a 12-month high of $86.72. Over the past few months, insider ownership has seen a move of -0.72% while institutional ownership has changed 0.19%.

Eli Lilly and Co (NYSE:LLY) opened at 83.42 on Tuesday. So, investors were in the mood for some good news-and they got a bit of it in Lilly's first-quarter earnings report, even as concerns about the company's pipeline cast a cloud over the numbers. Eli Lilly and had a net margin of 12.90% and a return on equity of 24.74%. Lilly posted revenues of $5.23 billion, compared to our consensus estimate of $5.26 billion. The business's revenue was up 7.2% compared to the same quarter a year ago. The company's revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 earnings per share.

Shares of Janus Capital Group, Inc. If you are accessing this story on another website, it was illegally copied and republished in violation of United States and worldwide copyright laws. The original version of this article can be viewed at https://www.themarketsdaily.com/2017/04/25/eli-lilly-and-co-lly-stake-increased-by-heritage-investors-management-corp.html. Analysts were looking for an EPS of 96 cents.

The company said it was working reduce its cost structure but that severance expenses would eat into unadjusted profit in the year.

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04/17/2017 - Eli Lilly and Company had its "outperform" rating reiterated by analysts at Cowen. Out of 17 Wall Street analysts rating Eli Lilly and Company, 14 give it "Buy", 0 "Sell" rating, while 3 recommend "Hold". Finally, Jefferies Group LLC reissued a "buy" rating and issued a $97.00 price objective on shares of Eli Lilly and in a report on Monday, April 10th. The consensus target price is $95.86 with 7 firms rating the stock a strong buy, 9 firms rating the stock a buy, 6 firms rating the stock a hold, 1 firm rating the stock a underperform, and finally 0 firms rating the stock a sell. Also, major shareholder Lilly Endowment Inc sold 220,000 shares of the stock in a transaction dated Wednesday, February 1st.

On 2/3/2017 Derica W Rice, EVP, sold 11,162 with an average share price of $77.14 per share and the total transaction amounting to $861,036.68. Insulin product Trulicity gained market share and skin treatment Taltz surpassed estimates. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Lilly will also highlight findings from US healthcare claims data identifying clinical characteristics and treatment patterns among patients with cluster headache. The stock showed weekly downbeat performance of -1.76%, which was maintained for the month at -3.05%. The disclosure for this sale can be found here. Insiders sold a total of 688,162 shares of company stock valued at $55,440,777 in the last ninety days.

"Lilly's new product launches, including Trulicity and Taltz, led the company to a strong quarter of volume-driven revenue growth", said David Ricks, who took over as Chief Executive Officer on January 1.

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