Wells Fargo & Company Increases Eli Lilly and Company (NYSE:LLY) Price Target to $1,100.00

Eli Lilly and Company (NYSE:LLY) had its price objective increased by analysts at Wells Fargo & Company from $970.00 to $1,100.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 19.62% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a report on Thursday, January 16th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Truist Financial boosted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Bank of America reaffirmed a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,007.50.

Eli Lilly and Company Stock Up 0.9 %

NYSE LLY traded up $8.55 during trading hours on Wednesday, hitting $919.61. 523,870 shares of the company were exchanged, compared to its average volume of 3,666,444. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The firm has a market cap of $871.95 billion, a price-to-earnings ratio of 78.53, a PEG ratio of 1.40 and a beta of 0.42. The company has a 50 day moving average of $819.86 and a two-hundred day moving average of $848.03. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its 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 return on equity of 85.24% and a net margin of 23.51%. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its board has approved a stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently bought and sold shares of LLY. Siemens Fonds Invest GmbH boosted its holdings in shares of Eli Lilly and Company by 4.3% in the fourth quarter. Siemens Fonds Invest GmbH now owns 18,211 shares of the company’s stock valued at $14,092,000 after acquiring an additional 756 shares in the last quarter. BridgePort Financial Solutions LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $180,000. Park Square Financial Group LLC purchased a new position in Eli Lilly and Company in the fourth quarter worth $1,218,000. Menard Financial Group LLC lifted its holdings in Eli Lilly and Company by 6.4% in the fourth quarter. Menard Financial Group LLC now owns 810 shares of the company’s stock valued at $625,000 after acquiring an additional 49 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Eli Lilly and Company during the 4th quarter worth $406,022,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

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.