Eli Lilly and Company (NYSE:LLY) Receives $1,009.72 Average PT from Brokerages

Shares of Eli Lilly and Company (NYSE:LLY) have been assigned an average rating of “Moderate Buy” from the twenty ratings firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $1,009.72.

A number of analysts have recently issued reports on the stock. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research note on Friday, January 17th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Citigroup dropped their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Bank of America restated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th.

Eli Lilly and Company Trading Down 0.4 %

Shares of LLY stock opened at $839.44 on Monday. The stock has a market cap of $795.93 billion, a price-to-earnings ratio of 71.69, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The firm’s 50 day moving average price is $835.99 and its two-hundred day moving average price is $839.87. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. On average, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds and other institutional investors have recently modified their holdings of the company. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company during the third quarter valued at $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company in the third quarter worth about $30,000. Highline Wealth Partners LLC lifted its holdings in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after purchasing an additional 20 shares during the period. FPC Investment Advisory Inc. lifted its holdings in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares during the period. Finally, Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company in the fourth quarter worth about $48,000. 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.