Eli Lilly and Company (NYSE:LLY) Rating Lowered to Hold at StockNews.com

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

Several other research analysts have also recently issued reports on LLY. Citigroup increased their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. 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 on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Finally, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Five 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, 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 %

LLY stock traded down $0.61 during midday trading on Tuesday, reaching $795.67. The company’s stock had a trading volume of 1,165,383 shares, compared to its average volume of 3,233,713. Eli Lilly and Company has a 1 year low of $567.64 and a 1 year high of $972.53. The firm has a market capitalization of $755.35 billion, a price-to-earnings ratio of 86.02, a PEG ratio of 2.99 and a beta of 0.41. The stock has a fifty day simple moving average of $816.24 and a two-hundred day simple moving average of $869.21. 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 posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during 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 company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. On average, equities research analysts predict that Eli Lilly and Company will post 13.18 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 buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Eli Lilly and Company

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

Institutional Trading of Eli Lilly and Company

Several institutional investors have recently bought and sold shares of the business. Lantz Financial LLC raised its position in Eli Lilly and Company by 1.3% during the second quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock worth $1,119,000 after acquiring an additional 16 shares during the period. Fort Pitt Capital Group LLC increased 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 purchasing an additional 155 shares in the last quarter. Wright Investors Service Inc. raised its stake in Eli Lilly and Company by 28.3% in the 2nd quarter. Wright Investors Service Inc. now owns 3,689 shares of the company’s stock valued at $3,340,000 after purchasing an additional 813 shares during the last quarter. Valley Brook Capital Group Inc. lifted 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 purchasing an additional 106 shares in the last quarter. Finally, Significant Wealth Partners LLC boosted its stake in Eli Lilly and Company by 22.1% during 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 during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

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.