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

Cantor Fitzgerald reissued their overweight rating on shares of Eli Lilly and Company (NYSE:LLY) in a research note issued to investors on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $885.00 price objective on the stock.

LLY has been the topic of a number of other research reports. Bank of America reaffirmed a buy rating and set a $1,000.00 price objective on shares of Eli Lilly and Company in a research report on Monday, June 24th. JPMorgan Chase & Co. lifted their price objective on shares of 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. Truist Financial reiterated a buy rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. The Goldman Sachs Group raised their target price on shares of 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. Finally, Jefferies Financial Group upped their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a buy rating in a research report on Monday, June 24th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $812.72.

Eli Lilly and Company Price Performance

Shares of LLY opened at $914.37 on Monday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The company has a 50 day moving average price of $814.40 and a 200-day moving average price of $740.86. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $916.83. The stock has a market capitalization of $869.03 billion, a PE ratio of 134.66, a PEG ratio of 1.97 and a beta of 0.41.

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

Eli Lilly and Company Dividend Announcement

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

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the sale, the insider now directly owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders sold a total of 791,145 shares of company stock valued at $673,704,508 over the last 90 days. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LLY. Versant Capital Management Inc boosted its stake in shares of Eli Lilly and Company by 1.8% during the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after buying an additional 13 shares during the period. Innova Wealth Partners lifted its position in Eli Lilly and Company by 1.2% during the 1st quarter. Innova Wealth Partners now owns 1,068 shares of the company’s stock worth $831,000 after acquiring an additional 13 shares during the period. Moseley Investment Management Inc. grew its stake in shares of Eli Lilly and Company by 0.4% in the 1st quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock valued at $3,027,000 after purchasing an additional 14 shares during the last quarter. CGN Advisors LLC increased its holdings in shares of Eli Lilly and Company by 1.4% in the first quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock valued at $779,000 after purchasing an additional 14 shares during the period. Finally, Twin Peaks Wealth Advisors LLC raised its stake in shares of Eli Lilly and Company by 2.0% during the first quarter. Twin Peaks Wealth Advisors LLC now owns 718 shares of the company’s stock worth $559,000 after purchasing an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

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.