Eli Lilly and Company (NYSE:LLY) Given New $970.00 Price Target at Wells Fargo & Company

Eli Lilly and Company (NYSE:LLY - Get Free Report) had its price objective reduced by investment analysts at Wells Fargo & Company from $1,000.00 to $970.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 20.80% from the stock's current price.

LLY has been the subject of a number of other research reports. Redburn Atlantic raised shares of Eli Lilly and Company to a "hold" rating in a report on Monday, November 4th. Bank of America reaffirmed a "buy" rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Wednesday, January 22nd. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an "outperform" rating and a $1,000.00 target price for the company. Finally, Barclays dropped their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $997.22.

Eli Lilly and Company Stock Down 0.2 %

LLY stock traded down $1.98 on Tuesday, hitting $803.01. 1,826,269 shares of the company's stock were exchanged, compared to its average volume of 3,993,929. The firm has a 50 day moving average price of $779.81 and a two-hundred day moving average price of $846.28. 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 has a 12-month low of $637.00 and a 12-month high of $972.53. The stock has a market cap of $762.31 billion, a P/E ratio of 86.81, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $11.44 billion for 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%. The business's revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. As a group, equities research analysts expect that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

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

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares of the company's stock, valued at $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 is available at this link. Corporate insiders own 0.13% of the company's stock.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in LLY. Summit Financial Strategies Inc. grew its holdings in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company's stock worth $1,865,000 after acquiring an additional 11 shares during the period. Prio Wealth Limited Partnership boosted its position in Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company's stock worth $2,136,000 after purchasing an additional 11 shares in the last quarter. First Community Trust NA grew its holdings in Eli Lilly and Company by 4.9% in the third quarter. First Community Trust NA now owns 257 shares of the company's stock valued at $228,000 after purchasing an additional 12 shares during the last quarter. Hummer Financial Advisory Services Inc increased its position in shares of Eli Lilly and Company by 1.0% in the third quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company's stock valued at $1,126,000 after buying an additional 12 shares in the last quarter. Finally, James Hambro & Partners LLP raised its stake in shares of Eli Lilly and Company by 3.7% during the 3rd quarter. James Hambro & Partners LLP now owns 340 shares of the company's stock worth $301,000 after buying an additional 12 shares during the last quarter. 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.