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

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

A number of other equities research analysts have also issued reports on LLY. Wells Fargo & Company dropped their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an "overweight" rating for the company in a research report on Tuesday. Citigroup dropped their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a report on Tuesday. Redburn Atlantic upgraded Eli Lilly and Company to a "hold" rating in a research note on Monday, November 4th. Bank of America restated a "buy" rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Barclays reduced their price objective on 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. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $997.22.

Eli Lilly and Company Stock Down 0.2 %

LLY traded down $1.76 during trading on Thursday, hitting $821.47. The stock had a trading volume of 633,102 shares, compared to its average volume of 3,756,790. The stock has a 50 day simple moving average of $782.29 and a two-hundred day simple moving average of $845.82. Eli Lilly and Company has a twelve month low of $637.00 and a twelve month high of $972.53. The company has a market capitalization of $779.84 billion, a PE ratio of 88.72, a PEG ratio of 1.71 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the previous year, the firm posted $0.10 earnings per share. The company's quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts predict that Eli Lilly and Company will post 12.85 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has initiated a stock repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

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 shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently made changes to their positions in LLY. International Assets Investment Management LLC increased its holdings in shares of Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company's stock worth $11,041,631,000 after buying an additional 12,448,888 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in Eli Lilly and Company by 92,759.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company's stock worth $905,774,000 after acquiring an additional 1,021,287 shares during the period. Integrated Investment Consultants LLC increased its holdings in Eli Lilly and Company by 37,140.7% in the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company's stock worth $614,990,000 after purchasing an additional 692,303 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Eli Lilly and Company by 126,531.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company's stock valued at $523,991,000 after acquiring an additional 678,209 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Eli Lilly and Company by 100.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company's stock valued at $1,032,737,000 after purchasing an additional 584,866 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

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.