Eli Lilly and Company (NYSE:LLY) Stock Rating Lowered by StockNews.com

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

LLY has been the topic of a number of other reports. Bank of America reaffirmed a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lowered their target price 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. Wolfe Research started coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Barclays lowered their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Stock Down 0.1 %

Shares of Eli Lilly and Company stock opened at $795.67 on Tuesday. The company has a 50-day simple moving average of $813.88 and a two-hundred day simple moving average of $868.83. The stock has a market capitalization of $755.35 billion, a PE ratio of 86.02, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a 52-week low of $567.64 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last announced 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 firm 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% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. On average, analysts anticipate that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has approved a share repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management 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 stock in a transaction 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 sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

A number of hedge funds have recently made changes to their positions in the business. Lantz Financial LLC boosted its stake in Eli Lilly and Company by 1.3% in the 2nd quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock worth $1,119,000 after purchasing an additional 16 shares during the period. Fort Pitt Capital Group LLC boosted its position in shares of Eli Lilly and Company by 13.5% during the second quarter. Fort Pitt Capital Group LLC now owns 1,307 shares of the company’s stock worth $1,184,000 after acquiring an additional 155 shares during the last quarter. Wright Investors Service Inc. grew its stake in Eli Lilly and Company by 28.3% during the second quarter. Wright Investors Service Inc. now owns 3,689 shares of the company’s stock valued at $3,340,000 after acquiring an additional 813 shares in the last quarter. Valley Brook Capital Group Inc. increased its holdings in Eli Lilly and Company by 7.8% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 1,464 shares of the company’s stock valued at $1,325,000 after acquiring an additional 106 shares during the last quarter. Finally, Significant Wealth Partners LLC lifted its stake in Eli Lilly and Company by 22.1% in the 2nd quarter. Significant Wealth Partners LLC now owns 559 shares of the company’s stock worth $506,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

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.