Erste Group Bank Downgrades Eli Lilly and Company (NYSE:LLY) to Hold

Erste Group Bank downgraded shares of Eli Lilly and Company (NYSE:LLY - Free Report) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports.

A number of other equities research analysts have also commented on the company. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price target for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Guggenheim reiterated a "buy" rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, HSBC cut 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 report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.37.

Eli Lilly and Company Stock Performance

Shares of LLY traded up $4.32 during midday trading on Thursday, reaching $770.00. The stock had a trading volume of 2,068,266 shares, compared to its average volume of 3,644,143. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. 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 $729.76 billion, a PE ratio of 65.76, a P/E/G ratio of 1.40 and a beta of 0.40. The firm has a 50 day simple moving average of $771.54 and a 200-day simple moving average of $799.67.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Eli Lilly and Company's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.58 EPS. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were 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 in the company, valued at approximately $4,778,521.60. This represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Eli Lilly and Company

Hedge funds and other institutional investors have recently modified their holdings of the business. WestEnd Advisors LLC boosted its stake 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 worth $26,000 after acquiring an additional 21 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new position in Eli Lilly and Company in the first quarter valued at approximately $27,000. Citizens National Bank Trust Department boosted its position in shares of Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after purchasing an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in Eli Lilly and Company in the first quarter valued at approximately $40,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of Eli Lilly and Company during the fourth quarter worth about $43,000. Institutional investors and hedge funds 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.