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 note issued to investors on Tuesday.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut 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 research note on Monday, November 4th. Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Morgan Stanley restated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Finally, Citigroup raised their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Trading Down 0.1 %

Shares of LLY stock opened at $795.67 on Tuesday. The business has a 50-day moving average price of $813.88 and a two-hundred day moving average price of $868.83. Eli Lilly and Company has a 12-month low of $567.64 and a 12-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 firm has a market cap of $755.35 billion, a P/E ratio of 86.02, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. Equities analysts anticipate that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has authorized 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 buy up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Eli Lilly and Company

In related 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 value of $723,042.00. Following the sale, 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in 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 valued at $11,041,631,000 after acquiring an additional 12,448,888 shares during the period. Pathway Financial Advisers LLC lifted its holdings 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 during the last quarter. Wulff Hansen & CO. lifted its holdings in shares of Eli Lilly and Company by 90,438.0% during the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after purchasing an additional 936,033 shares during the last quarter. Integrated Investment Consultants LLC boosted its position in shares of Eli Lilly and Company by 37,140.7% in the 3rd 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 in the last quarter. Finally, Comerica Bank grew its stake in shares of Eli Lilly and Company by 71.6% in the 2nd quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock worth $1,369,825,000 after buying an additional 631,312 shares during the last quarter. Hedge funds and other 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.