Eli Lilly and Company (NYSE:LLY) Cut to Hold at Daiwa America

Key Points

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Eli Lilly and Company (NYSE:LLY - Get Free Report) was downgraded by research analysts at Daiwa America from a "strong-buy" rating to a "hold" rating in a note issued to investors on Sunday,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. 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. Daiwa Capital Markets downgraded shares of Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 target price for the company. in a research report on Sunday. Morgan Stanley reissued an "overweight" rating and set a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price target for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating for the company in a research report on Monday, August 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $950.17.

Eli Lilly and Company Stock Performance

LLY stock opened at $698.89 on Friday. The stock's 50 day simple moving average is $763.06 and its 200 day simple moving average is $793.64. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $972.53. The stock has a market capitalization of $661.47 billion, a PE ratio of 45.68, a price-to-earnings-growth ratio of 0.98 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, beating analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The firm had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.40 billion. During the same period in the prior year, the company posted $3.92 earnings per share. The company's quarterly revenue was up 37.6% on a year-over-year basis. As a group, research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, Director Gabrielle Sulzberger acquired 117 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average price of $641.18 per share, with a total value of $75,018.06. Following the completion of the purchase, the director directly owned 2,703 shares in the company, valued at approximately $1,733,109.54. The trade was a 4.52% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Skovronsky bought 1,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average price of $634.40 per share, with a total value of $634,400.00. Following the transaction, the executive vice president directly owned 137,660 shares of the company's stock, valued at $87,331,504. This represents a 0.73% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 4,514 shares of company stock valued at $2,894,841. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds have recently modified their holdings of the stock. WestEnd Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after purchasing an additional 21 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the first quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company in the second quarter worth about $27,000. Financial Gravity Companies Inc. bought a new position in Eli Lilly and Company during the second quarter valued at approximately $31,000. Finally, Bare Financial Services Inc grew its holdings in Eli Lilly and Company by 263.6% during the 2nd quarter. Bare Financial Services Inc now owns 40 shares of the company's stock valued at $31,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Company Profile

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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