Eli Lilly and Company (NYSE:LLY) Earns Outperform Rating from Analysts at Wolfe Research

Wolfe Research began coverage on shares of Eli Lilly and Company (NYSE:LLY) in a research report report published on Friday, Marketbeat reports. The firm issued an outperform rating and a $1,000.00 price target on the stock.

Several other brokerages have also issued reports on LLY. Berenberg Bank upped their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Citigroup upped their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Guggenheim upped their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lowered 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. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Stock Down 5.1 %

NYSE:LLY opened at $746.20 on Friday. The company’s 50-day simple moving average is $882.65 and its 200-day simple moving average is $871.04. 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 has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The stock has a market capitalization of $708.38 billion, a P/E ratio of 80.67, a P/E/G ratio of 2.82 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $12.09 billion. During the same quarter last year, the business earned $0.10 earnings per share. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. On average, equities analysts anticipate that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.70%. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Several institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. lifted its holdings in Eli Lilly and Company by 19.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after purchasing an additional 1,620 shares in the last quarter. M&G Plc acquired a new position in shares of Eli Lilly and Company during the 1st quarter worth about $8,896,000. Jupiter Asset Management Ltd. lifted its stake in Eli Lilly and Company by 65.8% in the 1st quarter. Jupiter Asset Management Ltd. now owns 20,412 shares of the company’s stock valued at $15,880,000 after buying an additional 8,101 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Eli Lilly and Company by 6.6% in the 1st quarter. Acadian Asset Management LLC now owns 36,897 shares of the company’s stock worth $28,699,000 after buying an additional 2,289 shares during the last quarter. Finally, Patten & Patten Inc. TN increased its stake in Eli Lilly and Company by 6.7% during the 1st quarter. Patten & Patten Inc. TN now owns 16,686 shares of the company’s stock worth $12,981,000 after buying an additional 1,051 shares in 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.