Cantor Fitzgerald Reiterates “Overweight” Rating for Eli Lilly and Company (NYSE:LLY)

Eli Lilly and Company (NYSE:LLY)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a report issued on Tuesday, Benzinga reports. They presently have a $885.00 price objective on the stock, up from their prior price objective of $815.00. Cantor Fitzgerald’s price target indicates a potential upside of 13.27% from the stock’s previous close.

LLY has been the subject of a number of other reports. Barclays upped their price objective 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. The Goldman Sachs Group upped their price target on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. DZ Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective for the company. in a research report on Wednesday, February 21st. Wells Fargo & Company upped their target price on Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Finally, Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $731.55.

Eli Lilly and Company Stock Performance

LLY traded up $44.11 during trading hours on Tuesday, hitting $781.31. The company’s stock had a trading volume of 5,269,220 shares, compared to its average volume of 3,043,832. The company has a 50-day simple moving average of $760.89 and a 200 day simple moving average of $668.00. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $742.37 billion, a PE ratio of 134.43, a PEG ratio of 1.60 and a beta of 0.34. Eli Lilly and Company has a fifty-two week low of $392.26 and a fifty-two week high of $800.78.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.19. The business had revenue of $9.35 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.09 earnings per share. As a group, sell-side analysts expect that Eli Lilly and Company will post 12.51 EPS for the current year.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the transaction, the insider now owns 99,333,810 shares of the company’s stock, valued at $64,375,262,246.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LLY. Norges Bank bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $5,992,890,000. International Assets Investment Management LLC increased its stake in Eli Lilly and Company by 61,268.8% in 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 acquiring an additional 7,330,815 shares during the period. Sapient Capital LLC bought a new position in Eli Lilly and Company during the fourth quarter worth about $682,139,000. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Eli Lilly and Company during the third quarter valued at approximately $435,736,000. Finally, Vanguard Group Inc. grew its stake in shares of Eli Lilly and Company by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after purchasing an additional 659,838 shares during the period. Institutional investors 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.