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

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

A number of other equities research analysts have also recently commented on the stock. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Citigroup upped their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Finally, Truist Financial boosted their target price on 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. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Stock Up 1.6 %

LLY stock opened at $766.00 on Wednesday. The business has a 50 day moving average of $776.31 and a 200 day moving average of $850.93. The firm has a market cap of $727.18 billion, a PE ratio of 82.81, a price-to-earnings-growth ratio of 1.56 and a beta of 0.41. Eli Lilly and Company has a twelve month low of $624.68 and a twelve month high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share 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 net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. On average, research analysts forecast that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company during the third quarter worth about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter valued at approximately $30,000. Highline Wealth Partners LLC raised its position in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares in the last quarter. Finally, West Financial Advisors LLC bought a new position in shares of Eli Lilly and Company during the third quarter worth $58,000. 82.53% of the stock is owned by institutional investors.

About Eli Lilly and Company

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.