Eli Lilly and Company’s (LLY) Buy Rating Reiterated at Truist Financial

02 Dec 2023, 09:02 by Sarita Garza · The Markets Daily

Truist Financial reaffirmed their buy rating on shares of Eli Lilly and Company (NYSE:LLY – Free Report) in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a $650.00 price objective on the stock.

Several other analysts have also issued reports on the company. StockNews.com upgraded Eli Lilly and Company from a hold rating to a buy rating in a report on Friday, November 3rd. Cantor Fitzgerald restated an overweight rating and issued a $630.00 price objective on shares of Eli Lilly and Company in a research note on Wednesday, November 15th. Wells Fargo & Company upped their price objective on Eli Lilly and Company from $615.00 to $650.00 and gave the company an overweight rating in a research note on Monday, October 9th. Bank of America upped their price objective on Eli Lilly and Company from $600.00 to $700.00 in a research note on Friday, October 6th. Finally, The Goldman Sachs Group upped their price objective on Eli Lilly and Company from $385.00 to $470.00 and gave the company a neutral rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $559.08.

View Our Latest Analysis on LLY

Eli Lilly and Company Stock Performance

LLY opened at $584.04 on Wednesday. Eli Lilly and Company has a 52-week low of $309.20 and a 52-week high of $629.97. The firm has a market capitalization of $554.44 billion, a PE ratio of 105.80, a PEG ratio of 3.60 and a beta of 0.33. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.82 and a current ratio of 1.05. The business’s 50-day simple moving average is $581.06 and its 200 day simple moving average is $520.05.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last released its earnings results on Thursday, November 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.18. Eli Lilly and Company had a return on equity of 48.12% and a net margin of 15.55%. The business had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. As a group, sell-side analysts expect that Eli Lilly and Company will post 6.62 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Tuesday, November 14th. Eli Lilly and Company’s dividend payout ratio is presently 81.88%.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $571.41, for a total transaction of $119,996,100.00. Following the sale, the insider now owns 99,983,810 shares of the company’s stock, valued at approximately $57,131,748,872.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $571.41, for a total transaction of $119,996,100.00. Following the sale, the insider now owns 99,983,810 shares of the company’s stock, valued at approximately $57,131,748,872.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alonzo Weems sold 1,148 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $590.98, for a total value of $678,445.04. Following the sale, the executive vice president now directly owns 7,760 shares in the company, valued at approximately $4,586,004.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 426,818 shares of company stock valued at $251,226,782. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Hedge funds have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its position in Eli Lilly and Company by 2.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 43,078 shares of the company’s stock worth $23,138,000 after purchasing an additional 936 shares during the last quarter. Fortis Group Advisors LLC bought a new position in Eli Lilly and Company during the 3rd quarter worth $107,000. American Century Companies Inc. raised its position in Eli Lilly and Company by 18.3% during the 3rd quarter. American Century Companies Inc. now owns 1,927,954 shares of the company’s stock worth $1,035,562,000 after purchasing an additional 297,672 shares during the last quarter. Scarborough Advisors LLC bought a new position in Eli Lilly and Company during the 3rd quarter worth $233,000. Finally, USA Financial Formulas raised its position in Eli Lilly and Company by 8,433.3% during the 3rd quarter. USA Financial Formulas now owns 256 shares of the company’s stock worth $138,000 after purchasing an additional 253 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

About Eli Lilly and Company

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