Eli Lilly and Company's (LLY) "Market Perform" Rating Reaffirmed at Leerink Partners

Key Points

• Eli Lilly and Company has been downgraded by Leerink Partners from an "outperform" to a "market perform" rating, with a target price of $715.00, suggesting a potential upside of 11.40% from the current stock price.
• Recent reports from other analysts have varied, with some cutting ratings and target prices, while one has maintained an "overweight" rating, indicating mixed sentiments about the stock's prospects.
• The company recently reported strong quarterly earnings, surpassing consensus estimates with $6.31 EPS and $15.56 billion in revenue, reflecting a significant year-over-year revenue increase of 37.6%.

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s stock had its "market perform" rating reaffirmed by analysts at Leerink Partners in a report released on Thursday, MarketBeat Ratings reports. They presently have a $715.00 price objective on the stock. Leerink Partners' price objective would indicate a potential upside of 11.78% from the company's current price.

Several other analysts have also issued reports on LLY. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective on the stock. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price target for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Morgan Stanley reissued 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. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Finally, Guggenheim increased their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $999.50.

Eli Lilly and Company Price Performance

LLY traded down $106.71 on Thursday, hitting $639.66. 15,602,086 shares of the company's stock were exchanged, compared to its average volume of 3,885,442. Eli Lilly and Company has a fifty-two week low of $633.20 and a fifty-two week high of $972.53. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The firm has a 50-day moving average price of $777.97 and a 200-day moving average price of $800.20. The stock has a market cap of $606.23 billion, a price-to-earnings ratio of 51.71, a P/E/G ratio of 1.09 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 for the quarter, beating the consensus estimate of $5.59 by $0.72. The firm had revenue of $15.56 billion for the quarter, compared to analysts' expectations of $14.40 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The company's revenue was up 37.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.92 EPS. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted 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 during the period. Vanguard Group Inc. increased its holdings in Eli Lilly and Company by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock valued at $65,432,218,000 after purchasing an additional 4,975,395 shares in the last quarter. GAMMA Investing LLC boosted its position in 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 valued at $12,278,292,000 after buying an additional 14,852,076 shares during the last quarter. Wellington Management Group LLP boosted its position in 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 valued at $10,495,261,000 after buying an additional 81,587 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in Eli Lilly and Company by 16.1% in the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after buying an additional 1,493,673 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

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.