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

Cantor Fitzgerald restated their overweight rating on shares of Eli Lilly and Company (NYSE:LLY) in a report released on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $885.00 price objective on the stock.

Several other research firms have also issued reports on LLY. Jefferies Financial Group raised their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a buy rating in a report on Monday, June 24th. Citigroup started coverage on shares of Eli Lilly and Company in a report on Friday, September 13th. They issued a buy rating and a $1,060.00 target price for the company. Wells Fargo & Company raised their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an overweight rating in a report on Friday, August 9th. Guggenheim lifted their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a buy rating in a report on Friday, August 16th. Finally, Evercore ISI upgraded shares of Eli Lilly and Company to a hold rating in a report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $977.35.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $905.10 on Monday. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. The stock has a market capitalization of $860.21 billion, a P/E ratio of 133.30, a PEG ratio of 2.79 and a beta of 0.42. The firm has a fifty day simple moving average of $896.00 and a two-hundred day simple moving average of $836.45. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a $1.30 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 1,441 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $915.02, for a total value of $1,318,543.82. Following the transaction, the insider now owns 97,367,369 shares of the company’s stock, valued at approximately $89,093,089,982.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 442,229 shares of company stock valued at $410,002,456 in the last 90 days. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Newbridge Financial Services Group Inc. grew its position in Eli Lilly and Company by 18.4% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,850 shares of the company’s stock worth $3,486,000 after purchasing an additional 597 shares during the last quarter. Cannon Financial Strategists Inc. purchased a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $315,000. Heritage Wealth Management Inc. purchased a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $9,582,000. Lazari Capital Management Inc. grew its position in Eli Lilly and Company by 59.0% during the 2nd quarter. Lazari Capital Management Inc. now owns 477 shares of the company’s stock worth $432,000 after purchasing an additional 177 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $205,136,000. Hedge funds and other 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.