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

Eli Lilly and Company (NYSE:LLY)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $815.00 price objective on the stock. Cantor Fitzgerald’s target price points to a potential upside of 9.17% from the stock’s current price. Cantor Fitzgerald also issued estimates for Eli Lilly and Company’s FY2024 earnings at $12.10 EPS.

LLY has been the subject of a number of other reports. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Truist Financial reissued a “buy” rating and issued a $850.00 price objective on shares of Eli Lilly and Company in a research note on Friday, March 22nd. The Goldman Sachs Group lifted their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. BMO Capital Markets lifted their price target on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, Barclays lifted their price target on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $728.05.

Eli Lilly and Company Stock Performance

LLY opened at $746.56 on Monday. The stock has a market capitalization of $709.35 billion, a price-to-earnings ratio of 128.72, a PEG ratio of 1.65 and a beta of 0.34. The company has a fifty day moving average of $763.51 and a 200 day moving average of $657.01. Eli Lilly and Company has a fifty-two week low of $367.35 and a fifty-two week high of $800.78. 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 (NYSE:LLY) last posted its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.19. The company had revenue of $9.35 billion during 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%. Eli Lilly and Company’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period last year, the company posted $2.09 earnings per share. As a group, sell-side analysts forecast that Eli Lilly and Company will post 12.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 54,032 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $645.07, for a total transaction of $34,854,422.24. Following the completion of the transaction, the insider now owns 99,488,598 shares of the company’s stock, valued at $64,177,109,911.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by insiders.

Institutional Trading of Eli Lilly and Company

Hedge funds have recently added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new position in shares of Eli Lilly and Company during the first quarter worth approximately $107,000. Roundview Capital LLC grew its position in Eli Lilly and Company by 2.6% in the 1st quarter. Roundview Capital LLC now owns 2,056 shares of the company’s stock valued at $589,000 after buying an additional 53 shares during the last quarter. Merit Financial Group LLC purchased a new position in Eli Lilly and Company in the 1st quarter valued at $210,000. NewEdge Advisors LLC grew its position in Eli Lilly and Company by 9.9% in the 1st quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock valued at $15,193,000 after buying an additional 4,774 shares during the last quarter. Finally, Barometer Capital Management Inc. purchased a new position in Eli Lilly and Company in the 1st quarter valued at $561,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

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.