Eli Lilly and Company (NYSE:LLY) Earns “Buy” Rating from Truist Financial

Truist Financial reaffirmed their buy rating on shares of Eli Lilly and Company (NYSE:LLY) in a research report report published on Tuesday, Benzinga reports. The firm currently has a $1,000.00 price objective on the stock, up from their previous price objective of $892.00.

LLY has been the subject of a number of other research reports. Jefferies Financial Group increased their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a buy rating in a research note on Monday, June 24th. Cantor Fitzgerald reiterated an overweight rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, June 24th. JPMorgan Chase & Co. increased their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an overweight rating in a research note on Wednesday, May 1st. Bank of America reiterated a buy rating and issued a $1,000.00 price target on shares of Eli Lilly and Company in a research note on Monday, June 24th. Finally, BMO Capital Markets increased their price target on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an outperform rating in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $812.72.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $905.87 on Tuesday. Eli Lilly and Company has a 12 month low of $434.34 and a 12 month high of $915.54. The firm has a fifty day simple moving average of $814.40 and a 200 day simple moving average of $738.79. The stock has a market capitalization of $860.95 billion, a price-to-earnings ratio of 133.41, a PEG ratio of 1.97 and a beta of 0.36. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm’s revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.62 earnings per share. Research analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 17,229 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $902.38, for a total value of $15,547,105.02. Following the transaction, the insider now directly owns 97,556,910 shares of the company’s stock, valued at approximately $88,033,404,445.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 17,229 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $902.38, for a total value of $15,547,105.02. Following the transaction, the insider now directly owns 97,556,910 shares of the company’s stock, valued at approximately $88,033,404,445.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 789,704 shares of company stock valued at $672,385,964. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares in the last quarter. Capital World Investors boosted its stake in shares of Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after purchasing an additional 89,720 shares in the last quarter. Morgan Stanley boosted its stake in shares of Eli Lilly and Company by 0.7% in the 3rd quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after purchasing an additional 83,915 shares in the last quarter. Norges Bank acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $5,992,890,000. Finally, Capital Research Global Investors boosted its stake in shares of Eli Lilly and Company by 6.0% in the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after purchasing an additional 453,939 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

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.