Berenberg Bank Increases Eli Lilly and Company (NYSE:LLY) Price Target to $1,000.00

Eli Lilly and Company (NYSE:LLY) had its target price increased by Berenberg Bank from $850.00 to $1,000.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

LLY has been the subject of a number of other reports. Truist Financial reissued a buy rating and set a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. BMO Capital Markets restated an outperform rating and issued a $1,001.00 target price on shares of Eli Lilly and Company in a research note on Wednesday, July 3rd. Erste Group Bank raised shares of Eli Lilly and Company from a hold rating to a buy rating in a report on Wednesday, April 3rd. Cantor Fitzgerald reiterated an overweight rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, July 1st. Finally, Morgan Stanley restated an overweight rating and set a $1,023.00 price target on shares of Eli Lilly and Company in a research note on Friday, July 5th. Three 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, Eli Lilly and Company has a consensus rating of Moderate Buy and an average price target of $843.00.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $948.40 on Thursday. The business’s fifty day simple moving average is $849.46 and its 200 day simple moving average is $763.99. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 12 month low of $434.34 and a 12 month high of $950.79. The firm has a market capitalization of $901.37 billion, a P/E ratio of 139.68, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. The firm had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business’s revenue was up 26.0% compared to the same quarter last year. During the same period last year, the firm posted $1.62 EPS. As a group, analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.55%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the transaction, the insider now directly owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the sale, the executive vice president now directly owns 25,428 shares in the company, valued at approximately $20,835,194.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the transaction, the insider now directly owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. Insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316 in the last quarter. Insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Eli Lilly and Company during the 4th quarter valued at about $5,992,890,000. International Assets Investment Management LLC boosted its stake in shares of Eli Lilly and Company by 61,268.8% during the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after purchasing an additional 7,330,815 shares during the period. Swedbank AB bought a new position in shares of Eli Lilly and Company in the first quarter worth approximately $932,797,000. Sapient Capital LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth $682,139,000. Finally, Vanguard Group Inc. raised its holdings in Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after buying an additional 1,133,810 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other 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.