Eli Lilly and Company (NYSE:LLY) Price Target Raised to $1,700.00

Eli Lilly and Company (NYSE:LLY) had its target price hoisted by Jefferies Financial Group from $1,610.00 to $1,700.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently commented on LLY. Sanford C. Bernstein restated an “outperform” rating and issued a $1,450.00 price target on shares of Eli Lilly and Company in a research report on Monday, October 26th. Bank of America reaffirmed a “buy” rating and set a $1,497.00 price objective on shares of Eli Lilly and Company in a research report on Friday, October 30th. Wall Street Zen raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. HSBC raised their price target on Eli Lilly and Company from $850.00 to $940.00 and gave the stock a “reduce” rating in a research note on Thursday, September 10th. Finally, Berenberg Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and set a $1,400.00 price objective on the stock in a research report on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,416.64.

Eli Lilly and Company Price Performance

NYSE LLY opened at $1,437.46 on Monday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.39. The stock has a market capitalization of $1.35 trillion, a P/E ratio of 46.66, a P/E/G ratio of 1.72 and a beta of 0.40. The business’s fifty day moving average is $1,231.13 and its two-hundred day moving average is $1,106.42. Eli Lilly and Company has a 1 year low of $850.51 and a 1 year high of $1,453.00.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, October 29th. The company reported $7.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.71 by $1.77. The company had revenue of $24.40 billion for the quarter, compared to analyst estimates of $22.58 billion. Eli Lilly and Company had a return on equity of 86.76% and a net margin of 31.90%. Eli Lilly and Company’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.02 earnings per share. On average, research analysts forecast that Eli Lilly and Company will post 35.67 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be given a dividend of $1.73 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $6.92 dividend on an annualized basis and a yield of 0.5%. Eli Lilly and Company’s dividend payout ratio (DPR) is 22.46%.

Insider Activity

In other Eli Lilly and Company news, EVP Patrik Jonsson sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,175.10, for a total value of $7,638,150.00. Following the completion of the transaction, the executive vice president owned 54,147 shares of the company’s stock, valued at $63,628,139.70. This represents a 10.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Anat Hakim sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $1,402.52, for a total value of $7,012,600.00. Following the completion of the sale, the executive vice president owned 4,137 shares of the company’s stock, valued at $5,802,225.24. This represents a 54.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Eli Lilly and Company by 1.6% during the 2nd quarter. BlackRock Inc. now owns 67,540,400 shares of the company’s stock valued at $81,009,981,000 after acquiring an additional 1,046,558 shares in the last quarter. State Street Corp grew its stake in shares of Eli Lilly and Company by 1.7% in the 2nd quarter. State Street Corp now owns 36,215,754 shares of the company’s stock valued at $43,438,262,000 after purchasing an additional 605,752 shares during the period. Bank of America Corp DE bought a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $13,522,666,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Eli Lilly and Company by 1.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,209,385 shares of the company’s stock worth $8,647,153,000 after buying an additional 137,364 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Eli Lilly and Company by 7.9% in the 2nd quarter. Jennison Associates LLC now owns 5,461,416 shares of the company’s stock worth $6,550,587,000 after buying an additional 400,538 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Recent Eli Lilly and Company Headlines

Here are a few of the latest headlines about LLY:

• Positive Sentiment: Lilly reported positive 52-week Phase 3b results for Taltz plus Zepbound in adults with psoriatic arthritis and obesity. Nearly three times as many combination-treatment patients achieved at least a 50% reduction in disease activity versus Taltz alone, potentially broadening Zepbound’s use and commercial opportunity. Article: Phase 3b Taltz and Zepbound results
• Positive Sentiment: Foundayo, Lilly’s GLP-1 weight-loss pill, was reported to have shown substantial improvement in sleep apnea, adding to the potential uses of the company’s obesity pipeline. Article: Foundayo and sleep apnea
• Negative Sentiment: The FDA is requiring GLP-1 drugmakers to add a warning about rare NAION-related vision loss. Zepbound is among the medicines affected, creating a potential safety concern for Lilly’s key product category. Article: FDA warning on GLP-1 drugs

Eli Lilly and Company Company Profile

Eli Lilly and Company is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for people and animals. Its work spans areas including diabetes and obesity, cancer, immunology, neuroscience and pain management. The company’s medicines include treatments for diabetes and obesity, such as Mounjaro and Zepbound, as well as products for cancer and other conditions. Lilly also conducts research into new medicines and invests in the development of treatments across its therapeutic areas.