Wells Fargo & Company Has Lowered Expectations for Eli Lilly and Company (NYSE:LLY) Stock Price

Eli Lilly and Company (NYSE:LLY - Get Free Report) had its price objective cut by Wells Fargo & Company from $1,000.00 to $970.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 20.52% from the company's current price.

A number of other brokerages have also weighed in on LLY. StockNews.com raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Wednesday, January 22nd. Wolfe Research initiated coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an "outperform" rating and a $1,000.00 target price on the stock. Citigroup upped their price target on 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. 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. Finally, Truist Financial raised 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 report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $997.22.

Eli Lilly and Company Trading Down 0.4 %

Shares of Eli Lilly and Company stock traded down $3.30 during trading hours on Tuesday, hitting $804.87. The company's stock had a trading volume of 2,805,524 shares, compared to its average volume of 4,120,520. The company has a market capitalization of $764.08 billion, a PE ratio of 87.01, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a 50 day moving average of $778.30 and a 200 day moving average of $847.30. Eli Lilly and Company has a 12 month low of $637.00 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced 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). 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 last year, the business posted $0.10 earnings per share. The business's quarterly revenue was up 20.4% on a year-over-year basis. Analysts predict that Eli Lilly and Company will post 12.98 earnings per share for the current year.

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

Insider Transactions at Eli Lilly and Company

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 value 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 approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company's stock.

Institutional Trading of Eli Lilly and Company

Several hedge funds and other institutional investors have recently bought and sold shares of the business. CWA Asset Management Group LLC grew its position in Eli Lilly and Company by 11.9% during the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company's stock worth $5,245,000 after buying an additional 724 shares in the last quarter. M&T Bank Corp lifted its position in shares of Eli Lilly and Company by 0.7% during the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company's stock valued at $236,389,000 after acquiring an additional 1,867 shares during the period. Cooper Financial Group grew its holdings in shares of Eli Lilly and Company by 35.5% during the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company's stock worth $2,050,000 after purchasing an additional 695 shares in the last quarter. Everence Capital Management Inc. increased its position in shares of Eli Lilly and Company by 3.2% in the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company's stock worth $17,246,000 after purchasing an additional 690 shares during the period. Finally, Jacobs & Co. CA increased its position in shares of Eli Lilly and Company by 35.2% in the fourth quarter. Jacobs & Co. CA now owns 29,391 shares of the company's stock worth $22,690,000 after purchasing an additional 7,646 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.