Eli Lilly and Company (NYSE:LLY) Earns Outperform Rating from Analysts at Sanford C. Bernstein

Equities researchers at Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company (NYSE:LLY) in a research note issued on Thursday, Briefing.com reports. The brokerage set an “outperform” rating and a $1,100.00 price target on the stock. Sanford C. Bernstein’s price objective indicates a potential upside of 20.04% from the company’s previous close.

Several other research firms have also issued reports on LLY. JPMorgan Chase & Co. upped their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Guggenheim upped their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Citigroup initiated coverage on shares of Eli Lilly and Company in a research report on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price objective on the stock. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Finally, Barclays increased their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $986.00.

Eli Lilly and Company Stock Up 0.3 %

Eli Lilly and Company stock opened at $916.33 on Thursday. The stock has a market capitalization of $870.88 billion, a PE ratio of 134.95, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a twelve month low of $547.61 and a twelve month high of $972.53. 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 $919.25 and a 200-day moving average of $855.84.

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

Hedge Funds Weigh In On Eli Lilly and Company

Several hedge funds have recently bought and sold shares of LLY. Banque Cantonale Vaudoise increased its holdings in Eli Lilly and Company by 9.9% in the 1st quarter. Banque Cantonale Vaudoise now owns 26,503 shares of the company’s stock valued at $20,617,000 after buying an additional 2,383 shares during the period. Conrad Siegel Investment Advisors Inc. bought a new position in Eli Lilly and Company in the 1st quarter valued at about $231,000. Wedmont Private Capital increased its holdings in Eli Lilly and Company by 5.6% in the 1st quarter. Wedmont Private Capital now owns 11,825 shares of the company’s stock valued at $8,955,000 after buying an additional 627 shares during the period. Grandview Asset Management LLC increased its holdings in Eli Lilly and Company by 42.4% in the 1st quarter. Grandview Asset Management LLC now owns 763 shares of the company’s stock valued at $593,000 after buying an additional 227 shares during the period. Finally, Lantz Financial LLC increased its holdings in Eli Lilly and Company by 1.6% in the 1st quarter. Lantz Financial LLC now owns 1,220 shares of the company’s stock valued at $949,000 after buying an additional 19 shares during the period. 82.53% of the stock is owned by institutional investors.

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.