Eli Lilly and Company (NYSE:LLY) Price Target Cut to $895.00 by Analysts at UBS Group

Key Points

• Analysts at UBS Group reduced their price target for Eli Lilly and Company from $1,050.00 to $895.00, while maintaining a "buy" rating, indicating a potential upside of 43.02% from the current price.
• Eli Lilly's stock recently declined by 2.4%, trading at $625.78, with a significant trading volume of over 10 million shares.
• The company reported excellent quarterly earnings, with an EPS of $6.31, exceeding estimates, and a revenue increase of 37.6% year-over-year.

Eli Lilly and Company (NYSE:LLY - Get Free Report) had its target price dropped by equities researchers at UBS Group from $1,050.00 to $895.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price objective suggests a potential upside of 43.02% from the company's current price.

Several other equities analysts also recently issued reports on the stock. Morgan Stanley restated an "overweight" rating and issued a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price target for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $990.89.

Eli Lilly and Company Stock Down 2.4%

Shares of LLY traded down $15.08 during mid-day trading on Friday, reaching $625.78. The company's stock had a trading volume of 10,550,348 shares, compared to its average volume of 3,999,170. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. 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 cap of $593.07 billion, a PE ratio of 50.91, a price-to-earnings-growth ratio of 1.06 and a beta of 0.44. The company's 50 day moving average is $776.36 and its 200 day moving average is $799.60.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, beating the consensus estimate of $5.59 by $0.72. The company had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm's revenue was up 37.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.92 earnings per share. Equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Institutional Trading of Eli Lilly and Company

Several hedge funds and other institutional investors have recently made changes to their positions in LLY. WestEnd Advisors LLC increased its holdings in 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 acquiring an additional 21 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 1st quarter worth approximately $27,000. Blume Capital Management Inc. raised its position in shares of Eli Lilly and Company by 46.7% during the 2nd quarter. Blume Capital Management Inc. now owns 44 shares of the company's stock worth $34,000 after purchasing an additional 14 shares during the last quarter. Citizens National Bank Trust Department raised its position in shares of Eli Lilly and Company by 180.0% during the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after purchasing an additional 27 shares during the last quarter. Finally, IMG Wealth Management Inc. purchased a new stake in Eli Lilly and Company in the 2nd quarter valued at approximately $35,000. 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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