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

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

Other analysts have also recently issued research reports about the stock. Citigroup raised their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Truist Financial raised their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Barclays decreased their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $766.00 on Wednesday. Eli Lilly and Company has a 52-week low of $624.68 and a 52-week high of $972.53. The stock has a fifty day moving average of $776.31 and a 200 day moving average of $850.93. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The firm has a market capitalization of $727.18 billion, a price-to-earnings ratio of 82.81, a P/E/G ratio of 1.56 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. On average, research analysts expect that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

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

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its holdings in shares of Eli Lilly and Company by 87,091.7% during the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after acquiring an additional 12,448,888 shares during the period. Pathway Financial Advisers LLC boosted its position in shares of Eli Lilly and Company by 92,759.9% during the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after purchasing an additional 1,021,287 shares in the last quarter. Integrated Investment Consultants LLC grew its stake in Eli Lilly and Company by 37,140.7% in the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after purchasing an additional 692,303 shares during the period. Comerica Bank raised its holdings in Eli Lilly and Company by 71.6% in the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock worth $1,369,825,000 after purchasing an additional 631,312 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Eli Lilly and Company by 100.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock valued at $1,032,737,000 after buying an additional 584,866 shares during the period. Hedge funds and other 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.