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

Cantor Fitzgerald reaffirmed their overweight rating on shares of Eli Lilly and Company (NYSE:LLY) in a research note released on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $815.00 target price on the stock. Cantor Fitzgerald also issued estimates for Eli Lilly and Company’s FY2024 earnings at $12.10 EPS.

Several other brokerages also recently weighed in on LLY. Wells Fargo & Company boosted their target price on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an overweight rating in a research note on Tuesday, February 6th. Morgan Stanley boosted their target price on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an overweight rating in a research note on Friday, February 16th. Citigroup boosted their target price on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Barclays boosted their target price on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an overweight rating in a research note on Wednesday, February 7th. Finally, The Goldman Sachs Group boosted 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. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $728.05.

Eli Lilly and Company Trading Down 0.6 %

NYSE LLY opened at $745.95 on Monday. The firm has a 50 day simple moving average of $764.24 and a 200-day simple moving average of $658.28. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94. Eli Lilly and Company has a one year low of $367.35 and a one year high of $800.78. The firm has a market cap of $708.77 billion, a price-to-earnings ratio of 128.61, a PEG ratio of 1.63 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.19. The company had revenue of $9.35 billion for the quarter, compared to analysts’ expectations of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter last year, the company earned $2.09 earnings per share. Equities research analysts anticipate that Eli Lilly and Company will post 12.52 EPS for the current fiscal year.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of Eli Lilly and Company stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total value of $50,920,804.11. Following the transaction, the insider now owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Eli Lilly and Company during the 4th quarter worth approximately $5,992,890,000. International Assets Investment Management LLC grew its holdings in Eli Lilly and Company by 61,268.8% during the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after purchasing an additional 7,330,815 shares during the period. Moneta Group Investment Advisors LLC lifted its position in shares of Eli Lilly and Company by 102,752.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,446,026 shares of the company’s stock worth $1,992,374,000 after acquiring an additional 5,440,731 shares in the last quarter. Morgan Stanley lifted its position in shares of Eli Lilly and Company by 44.1% during the fourth quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock worth $4,411,740,000 after acquiring an additional 3,691,436 shares in the last quarter. Finally, Imprint Wealth LLC lifted its position in shares of Eli Lilly and Company by 53,716.8% during the second quarter. Imprint Wealth LLC now owns 1,751,200 shares of the company’s stock worth $175,120,000 after acquiring an additional 1,747,946 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

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.