Eli Lilly and Company (NYSE:LLY) Rating Increased to Strong-Buy at Scotiabank

Eli Lilly and Company (NYSE:LLY) was upgraded by analysts at Scotiabank to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

LLY has been the subject of a number of other reports. Daiwa America downgraded Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research report on Sunday, August 17th. The Goldman Sachs Group boosted their target price on Eli Lilly and Company from $876.00 to $879.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Wall Street Zen upgraded Eli Lilly and Company from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Cantor Fitzgerald boosted their target price on shares of Eli Lilly and Company from $925.00 to $985.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, Leerink Partnrs upgraded shares of Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $999.32.

Eli Lilly and Company Trading Up 0.4%

Shares of LLY opened at $1,022.00 on Wednesday. The stock has a market capitalization of $966.19 billion, a PE ratio of 66.80, a P/E/G ratio of 1.21 and a beta of 0.43. The company’s fifty day moving average is $820.93 and its 200 day moving average is $779.85. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $1,032.95.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, October 30th. The company reported $7.02 EPS for the quarter, beating the consensus estimate of $6.42 by $0.60. The business had revenue of $17.60 billion during the quarter, compared to analyst estimates of $16.09 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. Eli Lilly and Company’s quarterly revenue was up 53.9% compared to the same quarter last year. During the same quarter last 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. Sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Institutional Trading of Eli Lilly and Company

Hedge funds have recently added to or reduced their stakes in the business. Wealth Preservation Advisors LLC bought a new position in Eli Lilly and Company in the first quarter worth approximately $27,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in Eli Lilly and Company during the second quarter valued at about $27,000. Evolution Wealth Management Inc. purchased a new position in Eli Lilly and Company in the second quarter valued at about $29,000. Steph & Co. raised its holdings in Eli Lilly and Company by 290.0% in the third quarter. Steph & Co. now owns 39 shares of the company’s stock worth $30,000 after purchasing an additional 29 shares in the last quarter. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of Eli Lilly and Company during the second quarter valued at about $31,000. 82.53% of the stock is owned by hedge funds and other 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.