Bank of America Has Lowered Expectations for Eli Lilly and Company (NYSE:LLY) Stock Price

Eli Lilly and Company (NYSE:LLY) had its price target cut by stock analysts at Bank of America from $1,150.00 to $1,100.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 31.51% from the stock’s current price.

Several other analysts have also commented on LLY. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. JPMorgan Chase & Co. boosted their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. BMO Capital Markets upped their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Citigroup lifted their price objective 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. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,011.94.

Eli Lilly and Company Stock Performance

LLY opened at $836.41 on Thursday. Eli Lilly and Company has a 1-year low of $547.61 and a 1-year high of $972.53. The stock has a market cap of $794.93 billion, a P/E ratio of 123.78, a P/E/G ratio of 3.24 and a beta of 0.42. The stock’s 50 day simple moving average is $916.20 and its 200 day simple moving average is $865.10. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. As a group, equities analysts anticipate that Eli Lilly and Company will post 14.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently bought and sold shares of LLY. Twelve Points Wealth Management LLC increased its position in shares of Eli Lilly and Company by 1.4% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after purchasing an additional 11 shares in the last quarter. Verum Partners LLC grew its stake in Eli Lilly and Company by 1.5% during the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after buying an additional 11 shares during the last quarter. Beaird Harris Wealth Management LLC increased its holdings in shares of Eli Lilly and Company by 2.2% during the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after buying an additional 11 shares in the last quarter. Summit Financial Strategies Inc. raised its stake in shares of Eli Lilly and Company by 0.5% in the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after acquiring an additional 11 shares during the last quarter. Finally, Prio Wealth Limited Partnership boosted its holdings in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after acquiring an additional 11 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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.