Eli Lilly and Company (NYSE:LLY) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Eli Lilly and Company (NYSE:LLY) in a report issued on Monday morning, Benzinga reports. The firm currently has a $885.00 target price on the stock. Cantor Fitzgerald also issued estimates for Eli Lilly and Company’s FY2024 earnings at $13.36 EPS.

A number of other analysts also recently weighed in on LLY. Berenberg Bank increased their target price on shares of Eli Lilly and Company from $850.00 to $1,000.00 and gave the company a buy rating in a research report on Thursday, July 11th. Truist Financial restated a buy rating and issued a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. JPMorgan Chase & Co. upped their price target on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an overweight rating in a research report on Thursday, July 11th. Jefferies Financial Group lifted their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a buy rating in a research report on Monday, June 24th. Finally, Erste Group Bank raised Eli Lilly and Company from a hold rating to a buy rating in a research note on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of Moderate Buy and a consensus price target of $858.72.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $905.41 on Monday. The stock has a market cap of $860.51 billion, a price-to-earnings ratio of 133.34, a P/E/G ratio of 2.07 and a beta of 0.41. Eli Lilly and Company has a twelve month low of $445.04 and a twelve month high of $966.10. The company’s fifty day moving average is $859.02 and its 200 day moving average is $771.34. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The firm had revenue of $8.77 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 EPS. Sell-side analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. 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. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds have recently modified their holdings of the company. Lipe & Dalton bought a new stake in Eli Lilly and Company during the fourth quarter worth $26,000. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $29,000. Core Wealth Advisors Inc. raised its stake in shares of Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the period. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company in the 2nd quarter worth about $32,000. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth about $37,000. Institutional investors own 82.53% of the company’s stock.

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.