Washington Trust Bank Lowers stake in Eli Lilly and Co (LLY)

Eli Lilly and Co (LLY) : Washington Trust Bank reduced its stake in Eli Lilly and Co by 20.95% during the most recent quarter end. The investment management company now holds a total of 5,627 shares of Eli Lilly and Co which is valued at $460,007 after selling 1,491 shares in Eli Lilly and Co , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Eli Lilly and Co makes up approximately 0.11% of Washington Trust Bank’s portfolio.

Other Hedge Funds, Including , Eqis Capital Management reduced its stake in LLY by selling 418 shares or 4.15% in the most recent quarter. The Hedge Fund company now holds 9,664 shares of LLY which is valued at $790,032. Eli Lilly and Co makes up approx 0.05% of Eqis Capital Management’s portfolio.Harbour Capital Advisors reduced its stake in LLY by selling 1,408 shares or 12.4% in the most recent quarter. The Hedge Fund company now holds 9,946 shares of LLY which is valued at $813,086. Eli Lilly and Co makes up approx 0.44% of Harbour Capital Advisors’s portfolio.Cullinan Associates Inc boosted its stake in LLY in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 32,367 shares of Eli Lilly and Co which is valued at $2,646,002. Eli Lilly and Co makes up approx 0.23% of Cullinan Associates Inc’s portfolio.Lvm Capital Management Ltdmi boosted its stake in LLY in the latest quarter, The investment management firm added 15,326 additional shares and now holds a total of 63,265 shares of Eli Lilly and Co which is valued at $5,171,914. Eli Lilly and Co makes up approx 1.63% of Lvm Capital Management Ltdmi’s portfolio.

Eli Lilly and Co opened for trading at $81.06 and hit $81.41 on the upside on Tuesday, eventually ending the session at $81.11, with a gain of 0.14% or 0.11 points. The heightened volatility saw the trading volume jump to 31,84,071 shares. Company has a market cap of $89,533 M.

On the company’s financial health, Eli Lilly and Co reported $0.86 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.85. The company had revenue of $5404.80 million for the quarter, compared to analysts expectations of $5157.09 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS.

Many Wall Street Analysts have commented on Eli Lilly and Co. Eli Lilly and Co was Upgraded by Goldman to ” Buy” on Sep 27, 2016. Eli Lilly and Co was Upgraded by JP Morgan to ” Overweight” on Sep 8, 2016.

Eli Lilly and Company (Lilly) is engaged in drug manufacturing business. The Company discovers develops manufactures and market products in two segments: human pharmaceutical products and animal health products. The Company’s products are sold in approximately 120 countries. The Company’s human pharmaceutical business segment sells medicines which are discovered or developed by its scientists. Its animal health business segment operates through the Company’s Elanco division which develops manufactures and markets products for both food animals and companion animals. The Company manufactures and distributes its products through facilities in the United States Puerto Rico and 11 other countries. Its products include endocrinology products neuroscience products oncology products cardiovascular products products for food animals products for companion animals and Novartis AH products.

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