Bank of America Cuts Eli Lilly and Company (NYSE:LLY) Price Target to $1,268.00

Eli Lilly and Company (NYSE:LLY) had its target price cut by Bank of America from $1,286.00 to $1,268.00 in a research note released on Monday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on LLY. Leerink Partners raised Eli Lilly and Company from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $886.00 to $1,104.00 in a research note on Monday, November 10th. National Bankshares set a $1,286.00 price target on Eli Lilly and Company in a research note on Monday, December 1st. Wells Fargo & Company increased their price target on Eli Lilly and Company from $1,100.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Eli Lilly and Company in a research report on Tuesday, December 9th. Finally, HSBC reiterated a “hold” rating and set a $1,070.00 target price on shares of Eli Lilly and Company in a research report on Wednesday, December 10th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $1,141.73.

Eli Lilly and Company Trading Down 1.2%

LLY opened at $1,042.06 on Monday. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $1,111.99. The company has a fifty day moving average of $951.95 and a 200-day moving average of $826.51. The stock has a market cap of $985.14 billion, a PE ratio of 50.98, a price-to-earnings-growth ratio of 1.32 and a beta of 0.37. The company has a quick ratio of 1.24, a current ratio of 1.55 and a debt-to-equity ratio of 1.71.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, October 30th. The company reported $7.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.60. The business had revenue of $17.60 billion for the quarter, compared to analyst estimates of $16.09 billion. Eli Lilly and Company had a net margin of 30.99% and a return on equity of 109.52%. Eli Lilly and Company’s revenue for the quarter was up 53.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, sell-side analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 0.7%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Friday, February 13th. Eli Lilly and Company’s payout ratio is 29.35%.

Institutional Investors Weigh In On Eli Lilly and Company

Several hedge funds and other institutional investors have recently made changes to their positions in the business. 10Elms LLP lifted its holdings in shares of Eli Lilly and Company by 33.3% in the third quarter. 10Elms LLP now owns 40 shares of the company’s stock valued at $31,000 after purchasing an additional 10 shares in the last quarter. Bridgewater Advisors Inc. raised its position in Eli Lilly and Company by 0.3% in the 3rd quarter. Bridgewater Advisors Inc. now owns 3,955 shares of the company’s stock valued at $3,018,000 after buying an additional 11 shares during the last quarter. Manske Wealth Management lifted its stake in Eli Lilly and Company by 2.5% during the 3rd quarter. Manske Wealth Management now owns 448 shares of the company’s stock valued at $342,000 after acquiring an additional 11 shares in the last quarter. Guardian Partners Inc. lifted its stake in Eli Lilly and Company by 0.3% during the 3rd quarter. Guardian Partners Inc. now owns 4,000 shares of the company’s stock valued at $3,302,000 after acquiring an additional 12 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL boosted its holdings in Eli Lilly and Company by 1.6% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 741 shares of the company’s stock worth $565,000 after acquiring an additional 12 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

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.