Eli Lilly and Company (NYSE:LLY) Stock Rating Upgraded by The Goldman Sachs Group

Eli Lilly and Company (NYSE:LLY) was upgraded by equities research analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a $888.00 target price on the stock, down from their previous target price of $892.00. The Goldman Sachs Group’s price objective would indicate a potential upside of 20.12% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research report on Friday, January 17th. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Finally, Truist Financial boosted their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,018.89.

Eli Lilly and Company Price Performance

Shares of LLY traded up $15.51 during trading hours on Tuesday, hitting $739.24. 1,705,876 shares of the company were exchanged, compared to its average volume of 3,332,483. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company has a market capitalization of $700.93 billion, a PE ratio of 62.92, a PEG ratio of 1.40 and a beta of 0.51. The firm has a fifty day simple moving average of $846.64 and a 200-day simple moving average of $830.05. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. As a group, sell-side analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is owned by company insiders.

Institutional Trading of Eli Lilly and Company

A number of institutional investors and hedge funds have recently modified their holdings of the company. Highline Wealth Partners LLC increased its holdings in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares during the period. FPC Investment Advisory Inc. increased its stake in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares during the period. Mascagni Wealth Management Inc. bought a new stake in Eli Lilly and Company in the fourth quarter valued at about $43,000. Prudent Man Investment Management Inc. acquired a new position in Eli Lilly and Company in the fourth quarter worth about $48,000. Finally, Compass Financial Services Inc bought a new position in Eli Lilly and Company during the fourth quarter worth about $50,000. 82.53% of the stock is currently owned by institutional investors.

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.