Eli Lilly and Company (NYSE:LLY) Trading 1.3% Higher After Analyst Upgrade

Eli Lilly and Company (NYSE:LLYGet Free Report)’s stock price was up 1.3% during trading on Friday after Rothschild & Co Redburn raised their price target on the stock from $775.00 to $830.00. Rothschild & Co Redburn currently has a neutral rating on the stock. Eli Lilly and Company traded as high as $1,048.57 and last traded at $1,037.84. Approximately 3,297,463 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 2,948,946 shares. The stock had previously closed at $1,024.14.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group lifted their target price on shares of Eli Lilly and Company from $951.00 to $1,145.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Jefferies Financial Group raised their price objective on Eli Lilly and Company from $976.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft boosted their target price on Eli Lilly and Company from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Wolfe Research raised their price target on Eli Lilly and Company from $1,050.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Finally, Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Tuesday, October 14th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $1,162.75.

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Key Eli Lilly and Company News

Here are the key news stories impacting Eli Lilly and Company this week:

Hedge Funds Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently made changes to their positions in LLY. Maryland Capital Advisors Inc. purchased a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $25,000. Sumitomo Mitsui Financial Group Inc. bought a new position in Eli Lilly and Company in the second quarter worth about $27,000. Vermillion & White Wealth Management Group LLC lifted its holdings in Eli Lilly and Company by 84.2% in the third quarter. Vermillion & White Wealth Management Group LLC now owns 35 shares of the company’s stock worth $27,000 after buying an additional 16 shares during the period. Evolution Wealth Management Inc. purchased a new stake in Eli Lilly and Company in the second quarter worth about $29,000. Finally, Steph & Co. boosted its position in Eli Lilly and Company by 290.0% during the 3rd quarter. Steph & Co. now owns 39 shares of the company’s stock valued at $30,000 after acquiring an additional 29 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

The stock has a market cap of $981.15 billion, a PE ratio of 50.77, a P/E/G ratio of 0.77 and a beta of 0.35. The business has a fifty day simple moving average of $1,056.87 and a two-hundred day simple moving average of $888.67. The company has a current ratio of 1.55, a quick ratio of 1.24 and a debt-to-equity ratio of 1.71.

Eli Lilly and Company (NYSE:LLYGet Free Report) last released its earnings results on Thursday, October 30th. The company reported $7.02 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.60. The company had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $16.09 billion. Eli Lilly and Company had a return on equity of 109.52% and a net margin of 30.99%.The firm’s revenue for the quarter was up 53.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.18 EPS. Research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be given a dividend of $1.73 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.50. This represents a $6.92 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. Eli Lilly and Company’s payout ratio is 29.35%.

About Eli Lilly and Company

(Get Free Report)

Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company founded in 1876 and headquartered in Indianapolis, Indiana. The company researches, develops, manufactures and commercializes a broad range of medicines and therapies for patients worldwide. Eli Lilly maintains operations and commercial presence across North America, Europe, Asia and other regions, serving both developed and emerging markets. The company has been led in recent years by President and Chief Executive Officer David A.

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