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

Key Points

• Eli Lilly's target price has been lowered by Guggenheim from $942.00 to $875.00, while still maintaining a "buy" rating, indicating a potential upside of 35.69% from the current price.
• Despite Guggenheim's downgrade, Eli Lilly has received a consensus rating of "Moderate Buy" from analysts, with a target price average of $973.71.
• In its latest earnings report, Eli Lilly exceeded analysts' expectations with an earnings per share (EPS) of $6.31, significantly higher than the consensus estimate of $5.59, and reported a 37.6% year-over-year revenue growth.

Eli Lilly and Company (NYSE:LLY - Free Report) had its target price trimmed by Guggenheim from $942.00 to $875.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Morgan Stanley reiterated an "overweight" rating and issued a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their target price for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Cantor Fitzgerald began coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price for the company. Finally, Leerink Partners restated a "market perform" rating and set a $715.00 target price on shares of Eli Lilly and Company in a report on Thursday, August 7th. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $964.88.

Eli Lilly and Company Price Performance

Shares of LLY traded up $24.78 during midday trading on Wednesday, reaching $685.27. The stock had a trading volume of 8,340,971 shares, compared to its average volume of 6,132,020. The company's 50-day moving average is $765.92 and its 200 day moving average is $795.40. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $972.53. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $648.58 billion, a price-to-earnings ratio of 44.79, a price-to-earnings-growth ratio of 0.93 and a beta of 0.44.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data 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 return on equity of 92.72% and a net margin of 25.91%. The firm had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. During the same period in the prior year, the business earned $3.92 EPS. The company's revenue for the quarter was up 37.6% compared to the same quarter last year. On average, equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.9%. Eli Lilly and Company's dividend payout ratio is presently 39.22%.

Insider Buying and Selling at Eli Lilly and Company

In other news, Director Jamere Jackson bought 200 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $639.56 per share, with a total value of $127,912.00. Following the transaction, the director owned 9,402 shares of the company's stock, valued at approximately $6,013,143.12. The trade was a 2.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Skovronsky bought 1,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average cost 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 in the company, valued at approximately $87,331,504. This represents 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 worth $2,894,841 over the last three months. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in shares of Eli Lilly and Company by 97.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock worth $83,669,349,000 after acquiring an additional 50,002,551 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of 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 worth $62,680,004,000 after buying an additional 1,183,038 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after buying an additional 14,852,076 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Eli Lilly and Company by 0.6% in the 1st quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company's stock worth $10,495,261,000 after buying an additional 81,587 shares during the last quarter. Finally, Laurel Wealth Advisors LLC grew its stake in shares of Eli Lilly and Company by 78,621.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company's stock worth $9,005,392,000 after buying an additional 11,537,661 shares during the last quarter. 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.