Eli Lilly and Company (NYSE:LLY) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Eli Lilly and Company (NYSE:LLY) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other research analysts have also commented on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and dropped their price target for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. HSBC lowered shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their price target for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, Erste Group Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $1,011.37.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $773.59 on Friday. The stock has a market cap of $733.16 billion, a price-to-earnings ratio of 66.06, a PEG ratio of 1.40 and a beta of 0.40. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The stock’s 50 day moving average price is $769.95 and its 200 day moving average price is $800.81. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same period last year, the firm earned $2.58 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 45.2% compared to the same quarter last year. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

Several large investors have recently added to or reduced their stakes in the stock. First Long Island Investors LLC increased its stake in Eli Lilly and Company by 14.1% during the 1st quarter. First Long Island Investors LLC now owns 27,020 shares of the company’s stock valued at $22,316,000 after purchasing an additional 3,336 shares in the last quarter. eCIO Inc. acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at about $732,000. Harold Davidson & Associates Inc. increased its position in Eli Lilly and Company by 1.0% during the first quarter. Harold Davidson & Associates Inc. now owns 4,084 shares of the company’s stock worth $3,373,000 after purchasing an additional 42 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its position in Eli Lilly and Company by 14.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 548 shares of the company’s stock worth $453,000 after purchasing an additional 68 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Eli Lilly and Company by 31.7% during the first quarter. Jones Financial Companies Lllp now owns 149,687 shares of the company’s stock worth $123,177,000 after buying an additional 36,002 shares during the period. 82.53% of the stock is 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.