Eli Lilly and Company’s (LLY) “Overweight” Rating Reaffirmed at Morgan Stanley

Eli Lilly and Company (NYSE:LLY)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Morgan Stanley in a report issued on Tuesday, Benzinga reports. They presently have a $1,106.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 16.36% from the stock’s current price.

Several other research analysts have also recently commented on LLY. 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 report on Friday, August 9th. Barclays boosted their price target 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. Argus boosted their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Wells Fargo & Company boosted their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group boosted their price objective on shares of 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. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $961.76.

Eli Lilly and Company Trading Down 0.2 %

NYSE LLY opened at $950.53 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. The stock has a market capitalization of $903.39 billion, a PE ratio of 139.99, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The firm has a 50 day moving average of $887.63 and a two-hundred day moving average of $816.72.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Johna Norton sold 7,056 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the sale, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,120,089 shares of company stock valued at $990,278,343 in the last ninety days. 0.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Eli Lilly and Company in the fourth quarter valued at approximately $5,992,890,000. Swedbank AB acquired a new stake in Eli Lilly and Company in the first quarter valued at approximately $932,797,000. Sapient Capital LLC acquired a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $682,139,000. Vanguard Group Inc. grew its position 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 acquiring an additional 1,133,810 shares in the last quarter. Finally, Wulff Hansen & CO. grew its position in Eli Lilly and Company by 90,438.0% in the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after acquiring an additional 936,033 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other 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.