Redburn Atlantic Upgrades Eli Lilly and Company (NYSE:LLY) to Hold

Eli Lilly and Company (NYSE:LLY) was upgraded by equities research analysts at Redburn Atlantic to a “hold” rating in a research report issued on Monday, Zacks.com reports.

A number of other brokerages have also recently commented on LLY. Wells Fargo & Company increased their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Bank of America cut their price target on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on 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. Barclays dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,008.41.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $806.60 on Monday. Eli Lilly and Company has a twelve month low of $561.65 and a twelve month high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The stock’s 50-day simple moving average is $905.20 and its 200 day simple moving average is $867.96. The firm has a market capitalization of $765.72 billion, a PE ratio of 87.20, a price-to-earnings-growth ratio of 3.09 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results 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). The company had revenue of $11.44 billion during 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%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 earnings per share. On average, analysts anticipate that Eli Lilly and Company will post 13.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Eli Lilly and Company

Institutional investors and hedge funds have recently modified their holdings of the business. Lynx Investment Advisory bought a new position in Eli Lilly and Company during the second quarter worth $32,000. LGT Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company during the second quarter valued at about $36,000. Cedar Mountain Advisors LLC boosted its position in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares in the last quarter. Morton Brown Family Wealth LLC grew its stake in shares of Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after buying an additional 15 shares during the period. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at about $45,000. 82.53% of the stock is currently owned by institutional investors.

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.