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

StockNews.com upgraded shares of Eli Lilly and Company (NYSE:LLY) from a hold rating to a buy rating in a research note published on Friday.

LLY has been the subject of a number of other research reports. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. 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 for the company. Citigroup dropped their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company reduced their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft dropped 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 note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company Stock Up 0.9 %

LLY stock opened at $878.09 on Friday. The firm has a fifty day moving average price of $789.87 and a two-hundred day moving average price of $843.31. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The firm has a market cap of $833.58 billion, a price-to-earnings ratio of 74.99, a PEG ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. Research analysts predict that Eli Lilly and Company will post 23.33 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a stock buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.68%. Eli Lilly and Company’s payout ratio is 51.24%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. AMF Tjanstepension AB raised its position in shares of Eli Lilly and Company by 113.7% during the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after purchasing an additional 176,552 shares during the period. Brendel Financial Advisors LLC boosted its position in shares of Eli Lilly and Company by 5.9% in the 3rd quarter. Brendel Financial Advisors LLC now owns 2,192 shares of the company’s stock valued at $1,942,000 after purchasing an additional 122 shares during the period. B & T Capital Management DBA Alpha Capital Management increased its stake in Eli Lilly and Company by 748.9% in the 3rd quarter. B & T Capital Management DBA Alpha Capital Management now owns 3,073 shares of the company’s stock worth $2,722,000 after purchasing an additional 2,711 shares in the last quarter. Strategic Advisors LLC lifted its stake in Eli Lilly and Company by 1.7% during the third quarter. Strategic Advisors LLC now owns 1,633 shares of the company’s stock valued at $1,447,000 after buying an additional 28 shares in the last quarter. Finally, Boston Common Asset Management LLC lifted its stake in Eli Lilly and Company by 77.5% during the third quarter. Boston Common Asset Management LLC now owns 18,563 shares of the company’s stock valued at $16,446,000 after buying an additional 8,106 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

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.