Eli Lilly and Company (NYSE:LLY) Stock Price Up 1.2% on Analyst Upgrade

Eli Lilly and Company (NYSE:LLY) was up 1.2% during trading on Friday after Berenberg Bank raised their price target on the stock from $850.00 to $1,000.00. Berenberg Bank currently has a buy rating on the stock. Eli Lilly and Company traded as high as $948.71 and last traded at $945.51. Approximately 766,238 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 2,919,053 shares. The stock had previously closed at $934.14.

Several other research firms have also commented on LLY. Barclays lifted their price target 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. The Goldman Sachs Group lifted their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Morgan Stanley reiterated an “overweight” rating and set a $1,023.00 price target on shares of Eli Lilly and Company in a research note on Friday, July 5th. Argus lifted their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $843.00.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. Insiders sold 1,214,704 shares of company stock valued at $1,066,841,316 in the last 90 days. 0.13% of the stock is currently owned by insiders.

Institutional Trading of Eli Lilly and Company

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lipe & Dalton purchased a new stake in Eli Lilly and Company in the 4th quarter valued at about $26,000. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter worth about $29,000. Core Wealth Advisors Inc. increased its position in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares in the last quarter. Lynx Investment Advisory purchased a new position in Eli Lilly and Company in the second quarter valued at approximately $32,000. Finally, Frank Rimerman Advisors LLC acquired a new position in Eli Lilly and Company during the fourth quarter valued at approximately $37,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 1.2 %

The business’s 50-day simple moving average is $845.17 and its two-hundred day simple moving average is $760.02. The stock has a market capitalization of $898.47 billion, a price-to-earnings ratio of 139.25, a PEG ratio of 2.05 and a beta of 0.41. 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 (NYSE:LLY) last issued its earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 earnings per share. On average, research analysts anticipate that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

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.