Eli Lilly and Company (NYSE:LLY) Shares Up 1.1% Following Analyst Upgrade

Eli Lilly and Company (NYSE:LLY) shares were up 1.1% during mid-day trading on Friday after Truist Financial raised their price target on the stock from $1,000.00 to $1,033.00. Truist Financial currently has a buy rating on the stock. Eli Lilly and Company traded as high as $920.70 and last traded at $920.34. Approximately 454,142 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 3,000,219 shares. The stock had previously closed at $910.69.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. BMO Capital Markets lifted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Morgan Stanley reissued an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Citigroup began coverage on Eli Lilly and Company in a report on Friday, September 13th. They set a “buy” rating and a $1,060.00 target price for the company. Finally, Berenberg Bank boosted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $979.29.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors have recently modified their holdings of LLY. Sunflower Bank N.A. lifted its holdings in Eli Lilly and Company by 1.7% during the 3rd quarter. Sunflower Bank N.A. now owns 1,744 shares of the company’s stock worth $1,545,000 after buying an additional 29 shares during the last quarter. Stonekeep Investments LLC raised its position in shares of Eli Lilly and Company by 5.6% during the 3rd quarter. Stonekeep Investments LLC now owns 301 shares of the company’s stock worth $267,000 after acquiring an additional 16 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its stake in Eli Lilly and Company by 8.3% during the third quarter. Compagnie Lombard Odier SCmA now owns 71,364 shares of the company’s stock worth $63,224,000 after purchasing an additional 5,498 shares during the last quarter. Sawyer & Company Inc lifted its stake in Eli Lilly and Company by 0.4% during the third quarter. Sawyer & Company Inc now owns 6,465 shares of the company’s stock worth $5,728,000 after purchasing an additional 27 shares during the last quarter. Finally, Webster Bank N. A. boosted its holdings in Eli Lilly and Company by 3.2% in the third quarter. Webster Bank N. A. now owns 1,955 shares of the company’s stock valued at $1,732,000 after purchasing an additional 60 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

The company’s 50 day simple moving average is $908.28 and its 200 day simple moving average is $851.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The company has a market capitalization of $875.98 billion, a PE ratio of 113.34, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. As a group, sell-side analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current year.

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.