Eli Lilly and Company (NYSE:LLY) Shares Up 0.6% on Analyst Upgrade

Eli Lilly and Company (NYSE:LLY)’s stock price was up 0.6% during trading on Friday after Citigroup raised their price target on the stock from $1,060.00 to $1,250.00. Citigroup currently has a buy rating on the stock. Eli Lilly and Company traded as high as $900.96 and last traded at $896.88. Approximately 599,380 shares changed hands during trading, a decline of 80% from the average daily volume of 2,951,049 shares. The stock had previously closed at $891.32.

A number of other analysts have also weighed in on LLY. Truist Financial raised their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Guggenheim boosted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Bank of America raised their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.41.

Institutional Trading of Eli Lilly and Company

Hedge funds have recently added to or reduced their stakes in the business. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company during the second quarter worth about $32,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $36,000. Cedar Mountain Advisors LLC raised its holdings in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the period. Morton Brown Family Wealth LLC boosted its holdings in shares of Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after buying an additional 15 shares during the period. Finally, Unique Wealth Strategies LLC acquired a new position in shares of Eli Lilly and Company in the second quarter valued at approximately $45,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

The company has a market cap of $848.45 billion, a P/E ratio of 109.94, a P/E/G ratio of 3.24 and a beta of 0.42. The company’s 50-day moving average price is $919.74 and its 200-day moving average price is $862.48. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly 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 company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, sell-side analysts predict that Eli Lilly and Company will post 14.05 earnings per share for the current fiscal year.

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.