Eli Lilly and Company (NYSE:LLY) Price Target Cut to $1,268.00 by Analysts at Bank of America

Eli Lilly and Company (NYSE:LLY) had its price objective decreased by analysts at Bank of America from $1,286.00 to $1,268.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 23.38% from the company’s current price.

A number of other brokerages have also commented on LLY. CICC Research boosted their price objective on shares of Eli Lilly and Company from $801.00 to $1,060.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Scotiabank started coverage on Eli Lilly and Company in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $1,165.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Monday, December 1st. BMO Capital Markets set a $1,200.00 price objective on Eli Lilly and Company in a report on Thursday, December 4th. Finally, Wells Fargo & Company upped their target price on Eli Lilly and Company from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,128.55.

Eli Lilly and Company Trading Up 1.8%

LLY stock opened at $1,027.68 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.55 and a debt-to-equity ratio of 1.71. The company has a market cap of $971.55 billion, a price-to-earnings ratio of 50.28, a PEG ratio of 1.14 and a beta of 0.37. The business has a fifty day simple moving average of $939.47 and a 200-day simple moving average of $820.35. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $1,111.99.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, October 30th. The company reported $7.02 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.60. Eli Lilly and Company had a net margin of 30.99% and a return on equity of 109.52%. The firm had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $16.09 billion. During the same period in the previous year, the company posted $1.18 earnings per share. Eli Lilly and Company’s revenue was up 53.9% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Laurel Wealth Advisors LLC increased its position in shares of Eli Lilly and Company by 78,621.2% during the second quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company’s stock valued at $9,005,392,000 after purchasing an additional 11,537,661 shares during the period. Norges Bank bought a new position in Eli Lilly and Company in the second quarter worth $8,827,714,000. Capital Research Global Investors boosted its stake in Eli Lilly and Company by 20.9% during the third quarter. Capital Research Global Investors now owns 25,088,371 shares of the company’s stock worth $19,141,787,000 after buying an additional 4,332,008 shares in the last quarter. Vanguard Group Inc. increased its holdings in Eli Lilly and Company by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 80,407,430 shares of the company’s stock valued at $62,680,004,000 after buying an additional 1,183,038 shares during the period. Finally, Amundi increased its holdings in Eli Lilly and Company by 27.1% in the 3rd quarter. Amundi now owns 4,525,902 shares of the company’s stock valued at $3,823,977,000 after buying an additional 964,675 shares during the period. 82.53% of the stock is currently owned by 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.