Eli Lilly and Company (NYSE:LLY) Earns “Buy” Rating from Guggenheim

Eli Lilly and Company (NYSE:LLY)‘s stock had its “buy” rating reissued by analysts at Guggenheim in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $936.00 price target on the stock. Guggenheim’s price objective indicates a potential upside of 22.61% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Erste Group Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and dropped their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price target for the company. Hsbc Global Res downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. Finally, Morgan Stanley 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, three have issued a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,011.79.

Eli Lilly and Company Price Performance

LLY stock opened at $763.43 on Friday. The firm has a 50 day moving average price of $780.48 and a 200-day moving average price of $800.93. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The firm has a market capitalization of $723.53 billion, a price-to-earnings ratio of 62.12, a PEG ratio of 1.11 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same period last year, the company posted $2.58 earnings per share. The business’s revenue was up 45.2% compared to the same quarter last year. Equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Eli Lilly and Company

Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its stake in Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock worth $83,669,349,000 after buying an additional 50,002,551 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Eli Lilly and Company by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock worth $65,432,218,000 after acquiring an additional 4,975,395 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Eli Lilly and Company by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock worth $13,389,651,000 after purchasing an additional 291,875 shares during the period. GAMMA Investing LLC grew its holdings in Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Eli Lilly and Company by 0.6% during 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 purchasing an additional 81,587 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

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.