Eli Lilly and Company’s (LLY) “Overweight” Rating Reiterated at Cantor Fitzgerald

Eli Lilly and Company (NYSE:LLY)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They presently have a $885.00 target price on the stock. Cantor Fitzgerald’s target price points to a potential downside of 2.34% from the stock’s current price.

LLY has been the subject of a number of other research reports. Citigroup assumed coverage on Eli Lilly and Company in a report on Friday, September 13th. They issued a “buy” rating and a $1,060.00 target price for the company. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Berenberg Bank increased their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Bank of America raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Barclays upped their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Trading Down 1.9 %

LLY stock opened at $906.17 on Monday. The firm has a fifty day moving average price of $896.70 and a 200 day moving average price of $835.96. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The firm has a market cap of $861.23 billion, a PE ratio of 133.46, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Sell-side analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 17,229 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $902.38, for a total value of $15,547,105.02. Following the completion of the transaction, the insider now owns 97,556,910 shares of the company’s stock, valued at $88,033,404,445.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 451,900 shares of company stock worth $418,732,178. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after acquiring an additional 1,133,810 shares in the last quarter. Capital World Investors raised its holdings in shares of Eli Lilly and Company by 0.3% in the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after buying an additional 89,720 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Eli Lilly and Company by 6.0% during the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after buying an additional 453,939 shares during the period. Capital International Investors increased its position in shares of Eli Lilly and Company by 5.1% in the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock valued at $5,424,243,000 after acquiring an additional 335,560 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Eli Lilly and Company by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,542,089 shares of the company’s stock worth $2,647,675,000 after acquiring an additional 85,015 shares during the last quarter. 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.