Eli Lilly (LLY ) brushed aside American Electric Power (AEP ), Texas Instruments (TXN ) and United Technologies (UTX ) to claim the 73rd spot this week on the Most Watched Stocks List as healthcare and healthcare-related stocks saw their ranks change. Other major changes were also seen in two other healthcare companies: Omega Healthcare (OHI ) and Medtronic (MDT ), which both moved up.
Last week, a major consumer goods giant and a major drug company switched ranks in the top 10 list. This week saw the consumer giant stamp its authority and wrestle back to the number 6 spot on the list.
3 key reasons why Eli Lilly saw a jump in its rank:
- Eli Lilly reported a second-quarter net profit that rose to $1.11 a share, beating consensus estimates of $1.05. Revenue also rose around 8% compared to the same quarter of last year. Revenue outlook for 2017 was also raised to $22-22.5 billion from $21.822.3 billion.
- Eli Lilly also goes ex-dividend on August 11 with a payout of $0.52. A positive change in ranks is usually seen in the Most Watched Stocks List a few weeks before a run-up to a critical ex-dividend date.
- As the Dow hits record highs, some defensive buying by nervous investors could also be a reason behind the sudden spike in Eli’s rank.
Check out the rank changes that were seen in the Most Watched Stocks List last week here.
Our Most Watched Stocks List is a user-generated, interest-based ranking of dividend-paying stocks, giving you a real-time snapshot of buying interest in the market. Generated by our Premium members’ watchlists, it’s aggregated and ranked by the most watched criteria.
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