Eli Lilly and Company (NYSE:LLY) Cut to “Hold” at StockNews.com

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

LLY has been the subject of several other reports. Barclays reduced their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Truist Financial lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their price objective on 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. Finally, Citigroup decreased their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $997.22.

Eli Lilly and Company Trading Down 0.2 %

Eli Lilly and Company stock opened at $803.01 on Thursday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The firm has a market cap of $762.31 billion, a PE ratio of 86.81, a P/E/G ratio of 1.59 and a beta of 0.41. The stock’s 50 day simple moving average is $779.81 and its two-hundred day simple moving average is $846.28. Eli Lilly and Company has a 12 month low of $637.00 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analyst estimates 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 quarter last year, the business earned $0.10 earnings per share. Analysts anticipate that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has initiated a share repurchase program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are typically 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 firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hudock Inc. boosted its holdings in shares of Eli Lilly and Company by 8.9% during the fourth quarter. Hudock Inc. now owns 3,046 shares of the company’s stock valued at $2,352,000 after acquiring an additional 249 shares during the period. MGB Wealth Management LLC lifted its position in Eli Lilly and Company by 70.5% in the 4th quarter. MGB Wealth Management LLC now owns 1,947 shares of the company’s stock valued at $1,503,000 after purchasing an additional 805 shares during the last quarter. TFC Financial Management Inc. boosted its stake in Eli Lilly and Company by 52.0% during the 4th quarter. TFC Financial Management Inc. now owns 532 shares of the company’s stock valued at $411,000 after purchasing an additional 182 shares during the period. Park Capital Management LLC WI bought a new position in Eli Lilly and Company in the 4th quarter worth about $329,000. Finally, Raab & Moskowitz Asset Management LLC increased its stake in shares of Eli Lilly and Company by 27.9% in the fourth quarter. Raab & Moskowitz Asset Management LLC now owns 1,936 shares of the company’s stock valued at $1,495,000 after purchasing an additional 422 shares during the period. Institutional investors and hedge funds 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.