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

Eli Lilly and Company (NYSE:LLY) had its price target cut by equities research analysts at Wells Fargo & Company from $1,000.00 to $970.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 20.80% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. Citigroup upped their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. Truist Financial increased their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $997.22.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $803.01 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $762.31 billion, a P/E ratio of 86.81, a P/E/G ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a 12 month low of $637.00 and a 12 month high of $972.53. The business’s 50-day moving average is $779.81 and its 200 day moving average is $846.28.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Eli Lilly and Company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities research analysts forecast that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a stock buyback program on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated 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 in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hudock Inc. boosted its holdings in shares of Eli Lilly and Company by 8.9% during the 4th quarter. Hudock Inc. now owns 3,046 shares of the company’s stock worth $2,352,000 after purchasing an additional 249 shares during the last quarter. MGB Wealth Management LLC boosted its holdings in shares of Eli Lilly and Company by 70.5% during the 4th quarter. MGB Wealth Management LLC now owns 1,947 shares of the company’s stock worth $1,503,000 after purchasing an additional 805 shares during the last quarter. TFC Financial Management Inc. boosted its holdings in shares of Eli Lilly and Company by 52.0% during the 4th quarter. TFC Financial Management Inc. now owns 532 shares of the company’s stock worth $411,000 after purchasing an additional 182 shares during the last quarter. Park Capital Management LLC WI acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $329,000. Finally, Raab & Moskowitz Asset Management LLC boosted its holdings in shares of Eli Lilly and Company by 27.9% during the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 1,936 shares of the company’s stock worth $1,495,000 after purchasing an additional 422 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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.