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

Eli Lilly and Company (NYSE:LLY)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $885.00 price objective on the stock. Cantor Fitzgerald’s price objective points to a potential downside of 3.85% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Berenberg Bank upped their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Argus upped their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Barclays upped their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $956.88.

Eli Lilly and Company Trading Down 0.2 %

NYSE LLY traded down $1.73 on Monday, reaching $920.39. The company had a trading volume of 989,077 shares, compared to its average volume of 3,084,898. The stock’s 50 day moving average is $878.93 and its 200-day moving average is $806.28. The stock has a market cap of $874.74 billion, a price-to-earnings ratio of 135.64, a PEG ratio of 1.81 and a beta of 0.41. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $966.10.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 dated Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the completion of the transaction, the insider now owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The stock was 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 approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders sold a total of 1,214,704 shares of company stock worth $1,066,841,316 in the last three months. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Independent Advisor Alliance raised its stake in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after acquiring an additional 544 shares during the last quarter. Apexium Financial LP raised its stake in Eli Lilly and Company by 1,819.1% in the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after buying an additional 10,842 shares in the last quarter. Terril Brothers Inc. raised its stake in Eli Lilly and Company by 113.2% in the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after buying an additional 429 shares in the last quarter. Capital Planning LLC bought a new position in Eli Lilly and Company in the first quarter worth about $262,000. Finally, Hartline Investment Corp raised its stake in Eli Lilly and Company by 1.1% in the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock worth $12,786,000 after buying an additional 248 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

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.