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

StockNews.com lowered shares of Eli Lilly and Company (NYSE:LLY) from a buy rating to a hold rating in a report released on Tuesday morning.

A number of other equities research analysts also recently weighed in on the stock. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Truist Financial increased their price target on 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. Deutsche Bank Aktiengesellschaft decreased their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Stock Down 0.2 %

NYSE LLY opened at $794.14 on Tuesday. The stock has a market capitalization of $753.89 billion, a P/E ratio of 85.85, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a 52 week low of $570.50 and a 52 week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a fifty day moving average of $809.01 and a 200-day moving average of $867.80.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly 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 net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 EPS. On average, equities research analysts forecast that Eli Lilly and Company will post 13.18 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is currently 64.86%.

Eli Lilly and Company declared that its Board of Directors has authorized a share buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction on 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 transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

A number of large investors have recently modified their holdings of LLY. Lantz Financial LLC boosted its position in Eli Lilly and Company by 1.3% during the second quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock valued at $1,119,000 after purchasing an additional 16 shares during the last quarter. Fort Pitt Capital Group LLC grew its stake in shares of Eli Lilly and Company by 13.5% in the second quarter. Fort Pitt Capital Group LLC now owns 1,307 shares of the company’s stock valued at $1,184,000 after buying an additional 155 shares in the last quarter. Wright Investors Service Inc. grew its stake in shares of Eli Lilly and Company by 28.3% in the second quarter. Wright Investors Service Inc. now owns 3,689 shares of the company’s stock valued at $3,340,000 after buying an additional 813 shares in the last quarter. Valley Brook Capital Group Inc. increased its holdings in Eli Lilly and Company by 7.8% during the second quarter. Valley Brook Capital Group Inc. now owns 1,464 shares of the company’s stock worth $1,325,000 after buying an additional 106 shares during the last quarter. Finally, Significant Wealth Partners LLC raised its position in Eli Lilly and Company by 22.1% during the second quarter. Significant Wealth Partners LLC now owns 559 shares of the company’s stock worth $506,000 after acquiring an additional 101 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.