Cantor Fitzgerald Reaffirms Overweight Rating for Eli Lilly and Company (NYSE:LLY)

Cantor Fitzgerald reiterated their overweight rating on shares of Eli Lilly and Company (NYSE:LLY) in a research report 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 research analysts have also issued reports on LLY. Citigroup raised 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. Wells Fargo & Company lifted their price objective on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an overweight rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. lifted their price objective on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the stock an overweight rating in a research note on Friday, March 15th. DZ Bank lowered shares of Eli Lilly and Company from a buy rating to a hold rating and set a $820.00 price objective on the stock. in a research note on Wednesday, February 21st. Finally, Barclays lifted their price objective 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 equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of Moderate Buy and an average target price of $728.05.

Eli Lilly and Company Stock Up 0.6 %

Shares of NYSE LLY opened at $750.87 on Monday. The firm has a market capitalization of $713.45 billion, a PE ratio of 129.46, a price-to-earnings-growth ratio of 1.64 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. Eli Lilly and Company has a 1 year low of $367.35 and a 1 year high of $800.78. The firm’s 50-day moving average is $764.03 and its 200-day moving average is $657.67.

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

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total value of $50,920,804.11. Following the sale, the insider now directly owns 99,333,810 shares in the company, valued at $64,375,262,246.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.

Institutional Trading of Eli Lilly and Company

A number of hedge funds and other institutional investors have recently made changes to their positions in LLY. Versant Capital Management Inc boosted its holdings in Eli Lilly and Company by 1.8% during the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after acquiring an additional 13 shares during the last quarter. Moseley Investment Management Inc. boosted its holdings in Eli Lilly and Company by 0.4% during the 1st quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock worth $3,027,000 after acquiring an additional 14 shares during the last quarter. CGN Advisors LLC boosted its holdings in Eli Lilly and Company by 1.4% during the 1st quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock worth $779,000 after acquiring an additional 14 shares during the last quarter. Buckhead Capital Management LLC boosted its holdings in Eli Lilly and Company by 0.7% during the 4th quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock worth $1,226,000 after acquiring an additional 15 shares during the last quarter. Finally, Levin Capital Strategies L.P. boosted its holdings in Eli Lilly and Company by 3.8% during the 4th quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock worth $242,000 after acquiring an additional 15 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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.