Eli Lilly and Company (NYSE:LLY) Earns “Buy” Rating from Truist Financial

Truist Financial restated their buy rating on shares of Eli Lilly and Company (NYSE:LLY) in a research report released on Tuesday morning, Benzinga reports. Truist Financial currently has a $1,000.00 price objective on the stock, up from their previous price objective of $892.00.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group boosted their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a buy rating in a research report on Monday, June 24th. Erste Group Bank raised Eli Lilly and Company from a hold rating to a buy rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an overweight rating in a research report on Wednesday, May 1st. Cantor Fitzgerald reaffirmed an overweight rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, June 24th. Finally, Citigroup upped their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $812.72.

Eli Lilly and Company Price Performance

LLY stock opened at $905.87 on Tuesday. The stock has a 50-day moving average price of $814.40 and a two-hundred day moving average price of $738.79. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $915.54. 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 company has a market cap of $860.95 billion, a PE ratio of 133.41, a price-to-earnings-growth ratio of 1.97 and a beta of 0.36.

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

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the completion of the transaction, the insider now directly owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold 789,704 shares of company stock worth $672,385,964 over the last quarter. 0.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eli Lilly and Company

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