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 research note released on Friday morning.

Several other brokerages have also weighed in on LLY. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Truist Financial increased 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 report on Monday, February 3rd. HSBC lowered Eli Lilly and Company from a “buy” rating to a “reduce” rating and dropped their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Finally, Cantor Fitzgerald began coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.37.

Eli Lilly and Company Stock Performance

LLY stock opened at $738.33 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm has a market cap of $699.74 billion, a P/E ratio of 63.05, a P/E/G ratio of 1.40 and a beta of 0.48. 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 simple moving average is $776.85 and its 200 day simple moving average is $799.96.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly 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). The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The business’s revenue was up 45.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.58 earnings per share. As a group, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.81%. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction 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 trade represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. WestEnd Advisors LLC boosted its stake in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock valued at $26,000 after buying an additional 21 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at $27,000. Citizens National Bank Trust Department boosted its position in shares of Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock valued at $35,000 after purchasing an additional 27 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at $40,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $43,000. Institutional investors own 82.53% of the company’s stock.

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.