StockNews.com Upgrades Eli Lilly and Company (NYSE:LLY) to “Buy”

Eli Lilly and Company (NYSE:LLY) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Several other equities analysts have also recently commented on LLY. Truist Financial lifted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Citigroup increased their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. Finally, Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Trading Down 0.2 %

Shares of LLY stock opened at $772.00 on Wednesday. The stock has a 50-day moving average of $800.92 and a 200-day moving average of $865.71. Eli Lilly and Company has a 1-year low of $579.05 and a 1-year high of $972.53. The stock has a market cap of $732.87 billion, a price-to-earnings ratio of 83.46, a PEG ratio of 2.99 and a beta of 0.41. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. On average, equities research analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a share repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Large investors have recently added to or reduced their stakes in the stock. M&T Bank Corp grew its stake in Eli Lilly and Company by 0.7% during the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after acquiring an additional 1,867 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Eli Lilly and Company during the 3rd quarter worth approximately $34,328,000. Cumberland Partners Ltd grew its stake in shares of Eli Lilly and Company by 173.4% in the third quarter. Cumberland Partners Ltd now owns 21,984 shares of the company’s stock valued at $19,477,000 after buying an additional 13,942 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in Eli Lilly and Company by 132.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 40,055 shares of the company’s stock worth $35,486,000 after purchasing an additional 22,840 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Eli Lilly and Company by 0.3% during the 3rd quarter. Victory Capital Management Inc. now owns 697,335 shares of the company’s stock worth $617,797,000 after buying an additional 1,961 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.