Cantor Fitzgerald Reiterates “Overweight” Rating for Eli Lilly and Company (NYSE:LLY)

Eli Lilly and Company (NYSE:LLY)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They presently have a $885.00 target price on the stock. Cantor Fitzgerald’s price objective points to a potential downside of 0.72% from the company’s current price.

Other equities analysts have also issued research reports about the company. Truist Financial raised their price objective on Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. The Goldman Sachs Group boosted their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Bank of America raised their target price on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. upped their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, BMO Capital Markets raised their price objective on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $787.53.

Eli Lilly and Company Price Performance

LLY stock opened at $891.46 on Monday. The business has a 50 day moving average price of $790.79 and a 200 day moving average price of $723.56. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The stock has a market cap of $847.25 billion, a price-to-earnings ratio of 131.29, a PEG ratio of 1.92 and a beta of 0.36. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $894.87.

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

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’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 completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the transaction, the executive vice president now directly 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. Insiders sold 762,804 shares of company stock worth $648,109,138 in the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Norges Bank purchased 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 boosted its holdings in shares of Eli Lilly and Company by 61,268.8% during the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after purchasing an additional 7,330,815 shares during the last quarter. Swedbank AB purchased a new stake in shares of Eli Lilly and Company in the first quarter valued at $932,797,000. Sapient Capital LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $682,139,000. Finally, Vanguard Group Inc. increased its stake in Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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.