Eli Lilly and Company (NYSE:LLY) Price Target Lowered to $875.00 at Guggenheim

Eli Lilly and Company (NYSE:LLY - Get Free Report) had its target price dropped by equities researchers at Guggenheim from $942.00 to $875.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Guggenheim's price objective would suggest a potential upside of 35.69% from the company's current price.

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Other equities research analysts have also recently issued reports about the stock. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Wall Street Zen raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Leerink Partners reaffirmed a "market perform" rating and issued a $715.00 target price on shares of Eli Lilly and Company in a report on Thursday, August 7th. Finally, Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $973.71.

Check Out Our Latest Research Report on LLY

Eli Lilly and Company Trading Up 0.8%

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LLY stock opened at $644.86 on Wednesday. The company's 50-day simple moving average is $769.64 and its 200-day simple moving average is $797.19. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $972.53. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The firm has a market cap of $610.33 billion, a P/E ratio of 42.30, a PEG ratio of 0.89 and a beta of 0.44.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The business had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter last year, the firm earned $3.92 EPS. The business's revenue was up 37.6% compared to the same quarter last year. As a group, equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Insider Buying and Selling

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In other news, Director J Erik Fyrwald acquired 1,565 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the completion of the transaction, the director directly owned 74,578 shares of the company's stock, valued at $47,903,686.74. This trade represents a 2.14% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Skovronsky bought 1,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $634.40 per share, with a total value of $634,400.00. Following the acquisition, the executive vice president directly owned 137,660 shares of the company's stock, valued at approximately $87,331,504. The trade was a 0.73% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,514 shares of company stock valued at $2,894,841 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Institutional Trading of Eli Lilly and Company

Several large investors have recently modified their holdings of LLY. Tobias Financial Advisors Inc. boosted its holdings in Eli Lilly and Company by 4.1% during the 4th quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock worth $237,000 after acquiring an additional 12 shares during the last quarter. Redwood Investments LLC raised its stake in shares of Eli Lilly and Company by 0.5% during the 4th quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock worth $1,705,000 after purchasing an additional 12 shares during the period. Hobbs Wealth Management LLC raised its stake in shares of Eli Lilly and Company by 0.8% during the 1st quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock worth $1,205,000 after purchasing an additional 12 shares during the period. Hixon Zuercher LLC raised its stake in shares of Eli Lilly and Company by 0.7% during the 1st quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock worth $1,477,000 after purchasing an additional 12 shares during the period. Finally, O Brien Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 25.5% during the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds 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.

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