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

Equities researchers at Wolfe Research initiated coverage on shares of Eli Lilly and Company (NYSE:LLY) in a report released on Friday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $1,000.00 price target on the stock. Wolfe Research’s price target suggests a potential upside of 34.01% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Bank of America reduced their target price on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. BMO Capital Markets increased their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Berenberg Bank increased their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

Eli Lilly and Company Stock Down 4.9 %

LLY stock opened at $746.20 on Friday. Eli Lilly and Company has a 52 week low of $561.65 and a 52 week high of $972.53. The business has a 50-day simple moving average of $882.65 and a 200 day simple moving average of $870.38. 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 company has a market cap of $708.38 billion, a PE ratio of 80.67, a price-to-earnings-growth ratio of 2.82 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm 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%. Eli Lilly and Company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Sell-side analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s 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 transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, 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 through this link. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

A number of hedge funds have recently added to or reduced their stakes in LLY. China Universal Asset Management Co. Ltd. boosted its stake 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 worth $7,699,000 after acquiring an additional 1,620 shares in the last quarter. M&G Plc acquired a new stake in shares of Eli Lilly and Company in the 1st quarter valued at about $8,896,000. Jupiter Asset Management Ltd. grew its stake in shares of 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 during the period. Acadian Asset Management LLC increased its position 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 valued at $28,699,000 after buying an additional 2,289 shares in the last quarter. Finally, Patten & Patten Inc. TN raised 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 during the period. 82.53% of the stock is currently owned by institutional investors.

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.