StockNews.com Downgrades Eli Lilly and Company (NYSE:LLY) to Hold

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

Other analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Bank of America reiterated 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. 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. Finally, Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $997.22.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $811.61 on Thursday. Eli Lilly and Company has a twelve month low of $637.00 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. The stock has a market cap of $770.48 billion, a P/E ratio of 87.74, a PEG ratio of 1.71 and a beta of 0.41. The business’s 50-day moving average price is $782.29 and its two-hundred day moving average price is $845.82.

Eli Lilly and Company (NYSE:LLY) last announced 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). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities analysts predict that Eli Lilly and Company will post 12.85 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a share buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eli Lilly and Company

A number of large investors have recently made changes to their positions in the company. Algert Global LLC increased its holdings in Eli Lilly and Company by 27.9% in the 2nd quarter. Algert Global LLC now owns 504 shares of the company’s stock worth $456,000 after acquiring an additional 110 shares in the last quarter. RiverFront Investment Group LLC purchased a new stake in shares of Eli Lilly and Company in the second quarter worth $256,000. Anchor Investment Management LLC increased its stake in shares of Eli Lilly and Company by 0.9% in the second quarter. Anchor Investment Management LLC now owns 13,966 shares of the company’s stock worth $12,645,000 after purchasing an additional 131 shares in the last quarter. Centaurus Financial Inc. raised its position in shares of Eli Lilly and Company by 102.4% during the 2nd quarter. Centaurus Financial Inc. now owns 6,099 shares of the company’s stock valued at $5,522,000 after purchasing an additional 3,085 shares during the period. Finally, Greater Midwest Financial Group LLC lifted its stake in shares of Eli Lilly and Company by 230.2% during the 2nd quarter. Greater Midwest Financial Group LLC now owns 4,018 shares of the company’s stock valued at $3,744,000 after buying an additional 2,801 shares in the last quarter. 82.53% of the stock is currently 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.