Eli Lilly and Company (NYSE:LLY) Receives $1,007.94 Average Target Price from Analysts

Shares of Eli Lilly and Company (NYSE:LLY) have been assigned an average rating of “Moderate Buy” from the twenty-one ratings firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $1,002.22.

LLY has been the topic of several recent research reports. Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Citigroup raised their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Evercore ISI raised Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LLY. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company in the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter worth approximately $30,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 2nd quarter worth approximately $36,000. Morton Brown Family Wealth LLC increased its holdings in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the last quarter. Finally, Cedar Mountain Advisors LLC raised its position in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 0.9 %

Shares of Eli Lilly and Company stock opened at $789.27 on Friday. The stock has a market cap of $749.27 billion, a PE ratio of 85.33, a price-to-earnings-growth ratio of 3.02 and a beta of 0.41. The business has a fifty day simple moving average of $833.49 and a 200 day simple moving average of $870.65. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS 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 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%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. Research analysts predict that Eli Lilly and Company will post 13.18 EPS for the current year.

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

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.76%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

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.