Eli Lilly and Company (NYSE:LLY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Eli Lilly and Company (NYSE:LLY) have received a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $997.22.

A number of research firms have weighed in on LLY. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Barclays cut their target price on shares of 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. Deutsche Bank Aktiengesellschaft cut their target price 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. StockNews.com cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company.

Eli Lilly and Company Stock Up 2.4 %

LLY opened at $823.59 on Friday. Eli Lilly and Company has a fifty-two week low of $637.00 and a fifty-two week high of $972.53. 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 company has a fifty day moving average of $780.80 and a two-hundred day moving average of $845.98. The stock has a market capitalization of $781.85 billion, a price-to-earnings ratio of 89.04, a PEG ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released 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). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the firm posted $0.10 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts expect that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.73%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 56.22%.

Eli Lilly and Company declared that its board has authorized a stock repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred 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 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 legal filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Several large investors have recently made changes to their positions in the stock. Beaird Harris Wealth Management LLC lifted its holdings in shares of Eli Lilly and Company by 2.2% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after acquiring an additional 11 shares during the last quarter. Summit Financial Strategies Inc. lifted its holdings in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after acquiring an additional 11 shares during the last quarter. Prio Wealth Limited Partnership lifted its holdings in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after acquiring an additional 11 shares during the last quarter. First Community Trust NA lifted its holdings in Eli Lilly and Company by 4.9% during the 3rd quarter. First Community Trust NA now owns 257 shares of the company’s stock worth $228,000 after buying an additional 12 shares in the last quarter. Finally, Hummer Financial Advisory Services Inc lifted its holdings in Eli Lilly and Company by 1.0% during the 3rd quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company’s stock worth $1,126,000 after buying an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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.