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Eli Lilly and Company (NYSE:LLY) Lowered to "Hold" Rating by StockNews.com

Eli Lilly and Company logo with Medical background

Eli Lilly and Company (NYSE:LLY - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Thursday.

LLY has been the subject of a number of other reports. Wolfe Research started coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an "outperform" rating and a $1,000.00 price objective for the company. Truist Financial lifted their target price on shares of 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. Sanford C. Bernstein started coverage on Eli Lilly and Company in a report on Thursday, October 17th. They issued an "outperform" rating and a $1,100.00 price objective for the company. Bank of America reissued a "buy" rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price 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 report on Monday, November 4th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $997.22.

View Our Latest Stock Report on Eli Lilly and Company

Eli Lilly and Company Stock Up 2.4 %

LLY stock traded up $19.51 during trading on Thursday, reaching $823.59. 2,641,960 shares of the stock were exchanged, compared to its average volume of 3,922,886. The firm's 50 day moving average is $780.80 and its 200 day moving average is $845.98. The firm has a market cap of $781.85 billion, a P/E ratio of 89.04, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. 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 twelve month low of $637.00 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (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 the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business's revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 EPS. As a group, research analysts forecast that Eli Lilly and Company will post 12.98 EPS for the current year.

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

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares of the company's stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Institutional investors have recently bought and sold shares of the company. Opes Wealth Management LLC lifted its holdings in shares of Eli Lilly and Company by 33.9% in the 4th quarter. Opes Wealth Management LLC now owns 316 shares of the company's stock worth $244,000 after acquiring an additional 80 shares during the last quarter. Lee Financial Co grew its position in shares of Eli Lilly and Company by 4.8% in the 4th quarter. Lee Financial Co now owns 2,417 shares of the company's stock worth $1,866,000 after buying an additional 110 shares during the period. VeraBank N.A. increased its position in Eli Lilly and Company by 0.6% during the 4th quarter. VeraBank N.A. now owns 3,689 shares of the company's stock valued at $2,848,000 after buying an additional 23 shares in the last quarter. MN Wealth Advisors LLC lifted its stake in shares of Eli Lilly and Company by 14.4% in the fourth quarter. MN Wealth Advisors LLC now owns 2,156 shares of the company's stock worth $1,665,000 after buying an additional 272 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its holdings in Eli Lilly and Company by 0.7% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 32,240 shares of the company's stock worth $24,890,000 after buying an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

About Eli Lilly and Company

(Get Free Report)

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.

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