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

Eli Lilly and Company (NYSE:LLY)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They presently have a $885.00 price objective on the stock. Cantor Fitzgerald’s price objective would indicate a potential downside of 1.81% from the company’s current price.

Several other research analysts also recently commented on LLY. Guggenheim raised their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Barclays lifted their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. BMO Capital Markets boosted their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, Truist Financial reissued a “buy” rating and issued a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $961.76.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $901.28 on Monday. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. The company’s 50 day moving average price is $895.74 and its two-hundred day moving average price is $830.47. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The stock has a market cap of $856.60 billion, a P/E ratio of 132.74, a P/E/G ratio of 2.73 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. On average, equities analysts predict that Eli Lilly and Company will post 16.51 earnings per share for the current year.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 15,022 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $882.47, for a total transaction of $13,256,464.34. Following the sale, the insider now directly owns 97,778,788 shares in the company, valued at approximately $86,286,847,046.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 661,900 shares of company stock worth $604,721,602 in the last 90 days. 0.13% of the stock is currently owned by insiders.

Institutional Trading of Eli Lilly and Company

Institutional investors and hedge funds have recently modified their holdings of the company. Cannon Financial Strategists Inc. bought a new stake in Eli Lilly and Company in the 2nd quarter valued at $315,000. Heritage Wealth Management Inc. bought a new stake in Eli Lilly and Company in the 2nd quarter valued at $9,582,000. Lazari Capital Management Inc. grew its stake in shares of Eli Lilly and Company by 59.0% in the 2nd quarter. Lazari Capital Management Inc. now owns 477 shares of the company’s stock worth $432,000 after buying an additional 177 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 2nd quarter worth $205,136,000. Finally, Clear Rock Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 2nd quarter worth $229,000. 82.53% of the stock is currently owned by institutional investors.

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.