Eli Lilly and Company (NYSE:LLY) Price Target Raised to $850.00

Eli Lilly and Company (NYSE:LLY) had its price objective hoisted by JPMorgan Chase & Co. from $775.00 to $850.00 in a report published on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. BMO Capital Markets upped their price objective on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the company an outperform rating in a research note on Wednesday, February 7th. Cantor Fitzgerald reiterated an overweight rating and issued a $815.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, February 20th. TheStreet upgraded shares of Eli Lilly and Company from a c+ rating to a b rating in a research note on Friday, March 8th. Truist Financial upped their price objective on shares of Eli Lilly and Company from $650.00 to $850.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Finally, Wells Fargo & Company upped their price objective on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an overweight rating in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of Moderate Buy and a consensus target price of $689.52.

Eli Lilly and Company Trading Up 1.1 %

Shares of LLY stock traded up $8.49 during trading hours on Friday, reaching $762.66. 2,489,043 shares of the stock traded hands, compared to its average volume of 3,366,227. Eli Lilly and Company has a 1-year low of $323.26 and a 1-year high of $800.78. The business has a fifty day moving average price of $711.51 and a 200 day moving average price of $627.27. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $724.65 billion, a PE ratio of 131.49, a PEG ratio of 1.67 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The business had revenue of $9.35 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same quarter in the previous year, the business earned $2.09 earnings per share. The firm’s revenue was up 28.1% compared to the same quarter last year. On average, equities research analysts forecast that Eli Lilly and Company will post 12.41 EPS for the current year.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the company’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 completion of the transaction, the insider now directly owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 195,055 shares of company stock worth $125,254,657 in the last ninety days. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Large investors have recently bought and sold shares of the stock. Lipe & Dalton acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $26,000. Core Wealth Advisors Inc. raised its stake in shares of Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares in the last quarter. Thompson Investment Management Inc. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter valued at $27,000. Tidemark LLC acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $29,000. Finally, Retirement Group LLC raised its stake in shares of Eli Lilly and Company by 159.1% in the 2nd quarter. Retirement Group LLC now owns 57 shares of the company’s stock valued at $27,000 after buying an additional 35 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

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.