Citigroup Has Lowered Expectations for Eli Lilly and Company (NYSE:LLY) Stock Price

Eli Lilly and Company (NYSE:LLY) had its target price reduced by research analysts at Citigroup from $1,250.00 to $1,190.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 47.25% from the stock’s current price.

A number of other brokerages have also issued reports on LLY. Wells Fargo & Company decreased their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday. Sanford C. Bernstein began coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays lowered their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Wolfe Research began coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $997.22.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $808.16 on Tuesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The firm has a market capitalization of $767.20 billion, a PE ratio of 87.37, a P/E/G ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a 1-year low of $637.00 and a 1-year high of $972.53. The business’s fifty day moving average price is $776.69 and its two-hundred day moving average price is $848.19.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. On average, research analysts expect that Eli Lilly and Company will post 12.98 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

A number of institutional investors have recently bought and sold shares of the company. Algert Global LLC grew its stake in shares of Eli Lilly and Company by 27.9% in the 2nd quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after buying an additional 110 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in Eli Lilly and Company by 4.2% in the second quarter. Pathway Financial Advisers LLC now owns 1,101 shares of the company’s stock valued at $982,000 after acquiring an additional 44 shares during the last quarter. Advisory Alpha LLC grew its position in Eli Lilly and Company by 6.5% in the second quarter. Advisory Alpha LLC now owns 3,208 shares of the company’s stock worth $2,905,000 after acquiring an additional 195 shares in the last quarter. Ted Buchan & Co acquired a new position in shares of Eli Lilly and Company during the 2nd quarter worth $1,780,000. Finally, Granite Bay Wealth Management LLC bought a new position in shares of Eli Lilly and Company during the 2nd quarter valued at $323,000. 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.