Berenberg Bank Boosts Eli Lilly and Company (NYSE:LLY) Price Target to $1,000.00

Eli Lilly and Company (NYSE:LLY) had its price target lifted by Berenberg Bank from $850.00 to $1,000.00 in a report published on Thursday, Benzinga reports. Berenberg Bank currently has a buy rating on the stock.

LLY has been the subject of a number of other research reports. Cantor Fitzgerald reiterated an overweight rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, July 1st. Argus raised their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a buy rating in a research report on Tuesday, May 14th. Barclays boosted their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an overweight rating in a research report on Wednesday. BMO Capital Markets reaffirmed an outperform rating and issued a $1,001.00 target price on shares of Eli Lilly and Company in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. boosted their price target 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 analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $843.00.

Eli Lilly and Company Stock Performance

LLY opened at $948.40 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The stock’s 50 day moving average price is $849.46 and its two-hundred day moving average price is $763.99. The firm has a market capitalization of $901.37 billion, a P/E ratio of 139.68, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $950.79.

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

Eli Lilly and Company Dividend Announcement

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

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the sale, the insider now directly owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction on Friday, May 24th. The shares were sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the completion of the sale, the insider now owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of the 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 in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316 over the last 90 days. 0.13% of the stock is owned by company insiders.

Institutional Trading of Eli Lilly and Company

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