Eli Lilly and Company (NYSE:LLY) Receives “Overweight” Rating from Cantor Fitzgerald

Eli Lilly and Company (NYSE:LLY)‘s stock had its “overweight” rating reissued by analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $885.00 price objective on the stock. Cantor Fitzgerald’s target price would indicate a potential downside of 0.51% from the company’s previous close.

A number of other research firms have also weighed in on LLY. DZ Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective for the company. in a research note on Wednesday, February 21st. Bank of America lifted their price objective on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Jefferies Financial Group boosted their price target on shares of Eli Lilly and Company from $925.00 to $957.00 and gave the company a “buy” rating in a research report on Friday, June 7th. BMO Capital Markets boosted their price target on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group boosted their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $787.53.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded up $11.10 during mid-day trading on Monday, reaching $889.55. The company had a trading volume of 1,156,014 shares, compared to its average volume of 2,933,720. 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 firm has a market cap of $845.44 billion, a price-to-earnings ratio of 131.07, a PEG ratio of 1.92 and a beta of 0.36. The company’s 50-day moving average price is $785.96 and its 200-day moving average price is $719.32. Eli Lilly and Company has a one year low of $434.34 and a one year high of $892.20.

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. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. During the same period in the previous year, the business earned $1.62 EPS. Eli Lilly and Company’s revenue was up 26.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the stock in a transaction that occurred 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 sale, the insider now 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 552,804 shares of company stock worth $462,119,714 over the last 90 days. 0.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors have recently made changes to their positions in LLY. Lipe & Dalton purchased a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $26,000. Tidemark LLC bought a new position in Eli Lilly and Company during the fourth quarter valued at approximately $29,000. Core Wealth Advisors Inc. lifted its position in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares during the period. Optiver Holding B.V. bought a new position in Eli Lilly and Company during the third quarter valued at approximately $36,000. Finally, Frank Rimerman Advisors LLC bought a new position in Eli Lilly and Company during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors 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.