Bank of America Reaffirms Buy Rating for Eli Lilly and Company (NYSE:LLY)

Bank of America reaffirmed their buy rating on shares of Eli Lilly and Company (NYSE:LLY) in a research note published on Monday morning, Benzinga reports. They currently have a $1,000.00 price objective on the stock.

Other research analysts also recently issued research reports about the company. Citigroup raised their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. TheStreet raised shares of Eli Lilly and Company from a c+ rating to a b rating in a report on Friday, March 8th. Truist Financial lifted their price objective on Eli Lilly and Company from $850.00 to $892.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Jefferies Financial Group upped their target price on Eli Lilly and Company from $925.00 to $957.00 and gave the stock a buy rating in a research note on Friday, June 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an overweight rating in a research report on Wednesday, May 1st. Three equities 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 has a consensus rating of Moderate Buy and a consensus target price of $812.72.

Eli Lilly and Company Trading Down 0.4 %

Shares of Eli Lilly and Company stock opened at $901.26 on Monday. The firm has a market cap of $856.57 billion, a PE ratio of 132.73, a P/E/G ratio of 1.97 and a beta of 0.36. The stock has a fifty day moving average price of $804.54 and a 200-day moving average price of $734.18. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. Eli Lilly and Company has a 1 year low of $434.34 and a 1 year high of $909.42.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. During the same period in the prior year, the company earned $1.62 earnings per share. Eli Lilly and Company’s revenue was up 26.0% compared to the same quarter last year. Equities research analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the transaction, the insider now directly owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the transaction, the insider now directly owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. Insiders sold 789,704 shares of company stock worth $672,385,964 in the last ninety days. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Several hedge funds have recently made changes to their positions in the business. Milestone Asset Management LLC lifted its holdings in Eli Lilly and Company by 4.1% in the third quarter. Milestone Asset Management LLC now owns 759 shares of the company’s stock worth $409,000 after buying an additional 30 shares during the period. Mckinley Capital Management LLC increased its stake in shares of Eli Lilly and Company by 51.3% in the 3rd quarter. Mckinley Capital Management LLC now owns 7,675 shares of the company’s stock worth $4,123,000 after acquiring an additional 2,602 shares in the last quarter. Winslow Capital Management LLC increased its stake in shares of Eli Lilly and Company by 33.3% in the 3rd quarter. Winslow Capital Management LLC now owns 646,877 shares of the company’s stock worth $347,457,000 after acquiring an additional 161,509 shares in the last quarter. Truvestments Capital LLC boosted its stake in Eli Lilly and Company by 13.9% during the third quarter. Truvestments Capital LLC now owns 410 shares of the company’s stock worth $220,000 after acquiring an additional 50 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Eli Lilly and Company during the third quarter valued at approximately $3,874,000. 82.53% of the stock is 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.