Eli Lilly and Company (NYSE:LLY) Price Target Raised to $1,038.00 at Truist Financial

Eli Lilly and Company (NYSE:LLY) had its price objective lifted by equities research analysts at Truist Financial from $1,029.00 to $1,038.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 27.40% from the company’s previous close.

LLY has been the topic of a number of other reports. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. 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 on the stock in a report on Monday, November 4th. Barclays decreased their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Wolfe Research started coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. Finally, StockNews.com lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Stock Up 0.5 %

Eli Lilly and Company stock traded up $3.65 during midday trading on Monday, reaching $814.73. The stock had a trading volume of 1,471,064 shares, compared to its average volume of 3,738,901. The company has a fifty day moving average price of $783.56 and a two-hundred day moving average price of $843.75. Eli Lilly and Company has a 12 month low of $682.53 and a 12 month high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $773.44 billion, a P/E ratio of 88.02, a PEG ratio of 1.72 and a beta of 0.42.

Eli Lilly and Company announced that its Board of Directors has initiated a share repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the 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 transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

A number of large investors have recently added to or reduced their stakes in LLY. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company during the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company during the third quarter valued at approximately $30,000. Highline Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the last quarter. Finally, West Financial Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at $58,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

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.