Eli Lilly and Company (NYSE:LLY) Stock Price Up 0% After Analyst Upgrade

Eli Lilly and Company (NYSE:LLY)’s share price rose 0% during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $1,050.00 to $1,100.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Eli Lilly and Company traded as high as $932.40 and last traded at $923.80. Approximately 344,380 shares traded hands during trading, a decline of 89% from the average daily volume of 3,027,126 shares. The stock had previously closed at $923.71.

Several other equities research analysts have also recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 9th. Berenberg Bank increased their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Guggenheim increased their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Citigroup began coverage on shares of Eli Lilly and Company in a research note on Friday. They set a “buy” rating and a $1,060.00 target price for the company. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $902.67, for a total value of $8,729,721.57. Following the completion of the transaction, the insider now owns 97,574,139 shares in the company, valued at $88,077,248,051.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 451,900 shares of company stock worth $418,732,178 over the last 90 days. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Capital Planning LLC acquired a new stake in Eli Lilly and Company during the first quarter worth approximately $262,000. CHURCHILL MANAGEMENT Corp acquired a new stake in Eli Lilly and Company during the first quarter worth approximately $6,916,000. M&G Plc acquired a new stake in Eli Lilly and Company during the first quarter worth approximately $8,896,000. IPG Investment Advisors LLC acquired a new stake in Eli Lilly and Company during the fourth quarter worth approximately $351,000. Finally, HighPoint Advisor Group LLC acquired a new stake in Eli Lilly and Company during the fourth quarter worth approximately $9,878,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.0 %

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 business’s fifty day simple moving average is $897.24 and its two-hundred day simple moving average is $835.09. The company has a market cap of $878.22 billion, a price-to-earnings ratio of 136.09, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The business had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, equities analysts predict that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a $1.30 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.56%. Eli Lilly and Company’s payout ratio is 76.58%.

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.