Eli Lilly and Company’s (LLY) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Eli Lilly and Company (NYSE:LLY)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a report issued on Wednesday, Benzinga reports. They currently have a $885.00 price objective on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 3.10% from the company’s current price.

A number of other research firms have also weighed in on LLY. JPMorgan Chase & Co. boosted their price target on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Citigroup boosted their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Argus upped their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Finally, Jefferies Financial Group upped their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $858.72.

Eli Lilly and Company Stock Performance

LLY traded down $19.92 on Wednesday, reaching $858.37. The stock had a trading volume of 1,958,389 shares, compared to its average volume of 2,956,851. Eli Lilly and Company has a 12-month low of $446.56 and a 12-month high of $966.10. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The business’s 50-day moving average price is $866.95 and its two-hundred day moving average price is $779.76. The company has a market cap of $815.80 billion, a P/E ratio of 126.50, a price-to-earnings-growth ratio of 1.90 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.62 earnings per share. Sell-side analysts forecast that Eli Lilly and Company will post 13.71 earnings per share for the current year.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the sale, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,214,704 shares of company stock worth $1,066,841,316. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Several hedge funds have recently made changes to their positions in LLY. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $32,000. Lipe & Dalton acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $26,000. Core Wealth Advisors Inc. lifted its holdings in shares of Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares during the period. Activest Wealth Management acquired a new stake in shares of Eli Lilly and Company in the 1st quarter valued at approximately $39,000. Finally, Tidemark LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $29,000. 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.