Wolfe Research Begins Coverage on Eli Lilly and Company (NYSE:LLY)

Stock analysts at Wolfe Research assumed coverage on shares of Eli Lilly and Company (NYSE:LLY) in a research note issued on Friday, Marketbeat.com reports. The firm set an “outperform” rating and a $1,000.00 price target on the stock. Wolfe Research’s price objective points to a potential upside of 34.01% from the company’s previous close.

A number of other analysts have also commented on LLY. Berenberg Bank boosted their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Bank of America reduced their price target on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Finally, Guggenheim lifted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Four equities research 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.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Eli Lilly and Company Price Performance

Shares of LLY opened at $746.20 on Friday. The stock has a 50 day simple moving average of $882.65 and a 200 day simple moving average of $870.38. Eli Lilly and Company has a 52-week low of $561.65 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 firm has a market capitalization of $708.38 billion, a PE ratio of 80.67, a P/E/G ratio of 2.82 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Sell-side analysts predict that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Several hedge funds have recently added to or reduced their stakes in LLY. Geode Capital Management LLC grew its holdings in Eli Lilly and Company by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock valued at $15,089,563,000 after buying an additional 85,823 shares in the last quarter. Savoie Capital LLC grew its stake in shares of Eli Lilly and Company by 7.7% in the third quarter. Savoie Capital LLC now owns 18,216 shares of the company’s stock valued at $16,138,000 after acquiring an additional 1,300 shares in the last quarter. Valued Retirements Inc. bought a new position in Eli Lilly and Company during the third quarter worth about $328,000. 3Chopt Investment Partners LLC raised its stake in Eli Lilly and Company by 35.6% in the 3rd quarter. 3Chopt Investment Partners LLC now owns 5,078 shares of the company’s stock worth $4,499,000 after purchasing an additional 1,332 shares in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its holdings in Eli Lilly and Company by 10.2% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 594 shares of the company’s stock valued at $526,000 after purchasing an additional 55 shares during the period. 82.53% of the stock is 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.