Eli Lilly and Company (NYSE:LLY) Trading 0% Higher After Analyst Upgrade

Eli Lilly and Company (NYSE:LLY)’s stock price shot up 0% on Monday after JPMorgan Chase & Co. raised their price target on the stock from $1,050.00 to $1,100.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Eli Lilly and Company traded as high as $932.40 and last traded at $923.80. 344,380 shares changed hands during trading, a decline of 89% from the average session volume of 3,027,126 shares. The stock had previously closed at $923.71.

Other research analysts have also issued reports about the stock. Truist Financial reissued a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 9th. Bank of America upped their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Berenberg Bank lifted their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Guggenheim upped their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $977.35.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 17,229 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the sale, the insider now owns 97,556,910 shares of the company’s stock, valued at approximately $88,033,404,445.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 451,900 shares of company stock valued at $418,732,178. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Capital Planning LLC purchased a new position in Eli Lilly and Company during the first quarter valued at approximately $262,000. CHURCHILL MANAGEMENT Corp bought a new position in shares of Eli Lilly and Company in the first quarter worth $6,916,000. M&G Plc purchased a new stake in shares of Eli Lilly and Company in the first quarter worth $8,896,000. IPG Investment Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth $351,000. Finally, HighPoint Advisor Group LLC bought a new stake in Eli Lilly and Company during the fourth quarter valued at $9,878,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

The firm has a market capitalization of $877.98 billion, a PE ratio of 136.05, a PEG ratio of 2.79 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The company has a 50-day moving average of $897.12 and a 200 day moving average of $833.89.

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

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 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.