Eli Lilly and Company (NYSE:LLY) Now Covered by Wolfe Research

Equities researchers at Wolfe Research initiated coverage on shares of Eli Lilly and Company (NYSE:LLY) in a research note issued to investors 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 27.23% from the company’s current price.

Several other equities analysts also recently commented on LLY. Guggenheim boosted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced 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. Citigroup boosted their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Truist Financial increased their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Stock Down 3.2 %

Shares of NYSE LLY opened at $785.95 on Friday. The stock has a market cap of $746.12 billion, a PE ratio of 84.97, a P/E/G ratio of 3.07 and a beta of 0.43. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53. The company has a 50-day moving average of $888.32 and a 200 day moving average of $870.29.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly 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 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%. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. As a group, sell-side analysts predict that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction 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 completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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