BMO Capital Markets Reiterates “Outperform” Rating for Eli Lilly and Company (NYSE:LLY)

Eli Lilly and Company (NYSE:LLY)‘s stock had its “outperform” rating reaffirmed by equities research analysts at BMO Capital Markets in a note issued to investors on Wednesday, Benzinga reports. They currently have a $1,001.00 price target on the stock. BMO Capital Markets’ price objective indicates a potential upside of 11.46% from the stock’s current price.

A number of other research firms have also recently issued reports on LLY. Citigroup lifted their target price on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Argus lifted their target price 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. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group boosted their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $812.72.

Eli Lilly and Company Stock Down 0.9 %

NYSE LLY opened at $898.10 on Wednesday. Eli Lilly and Company has a 1-year low of $434.34 and a 1-year high of $918.50. The stock’s 50 day moving average is $824.60 and its two-hundred day moving average is $746.69. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $853.56 billion, a price-to-earnings ratio of 132.27, a PEG ratio of 1.98 and a beta of 0.41.

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

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the transaction, the insider now owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the completion of the transaction, the insider now directly owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The disclosure for this sale can be found here. Insiders sold 858,742 shares of company stock valued at $735,573,781 in the last quarter. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lipe & Dalton acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth about $26,000. Tidemark LLC acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth about $29,000. Core Wealth Advisors Inc. boosted its stake in shares of 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 buying an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth about $37,000. Finally, St. Johns Investment Management Company LLC boosted its stake in shares of Eli Lilly and Company by 123.3% during the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after buying an additional 37 shares during the last quarter. 82.53% of the stock is 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.