Eli Lilly and Company (NYSE:LLY) Price Target Raised to $892.00

Eli Lilly and Company (NYSE:LLY) had its price objective hoisted by Truist Financial from $850.00 to $892.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also issued reports on LLY. BMO Capital Markets increased their price objective on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the company an outperform rating in a report on Wednesday, February 7th. Erste Group Bank upgraded Eli Lilly and Company from a hold rating to a buy rating in a report on Wednesday, April 3rd. Barclays increased their target price on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an overweight rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. raised their price target on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the company an overweight rating in a report on Friday, March 15th. Finally, TheStreet upgraded shares of Eli Lilly and Company from a c+ rating to a b rating in a research note on Friday, March 8th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Eli Lilly and Company has a consensus rating of Moderate Buy and an average target price of $757.95.

Eli Lilly and Company Price Performance

LLY opened at $734.97 on Wednesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.73 and a current ratio of 1.35. The company’s 50-day simple moving average is $761.06 and its two-hundred day simple moving average is $671.38. Eli Lilly and Company has a 52-week low of $419.80 and a 52-week high of $800.78. The stock has a market capitalization of $698.52 billion, a P/E ratio of 108.24, a P/E/G ratio of 1.50 and a beta of 0.37.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Tuesday, April 30th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the prior year, the firm earned $1.62 EPS. The company’s revenue was up 26.0% compared to the same quarter last year. As a group, analysts predict that Eli Lilly and Company will post 13.83 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Management Network Inc. increased its stake in shares of Eli Lilly and Company by 13.4% in the 3rd quarter. Financial Management Network Inc. now owns 828 shares of the company’s stock worth $440,000 after acquiring an additional 98 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Eli Lilly and Company by 3.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 242,558 shares of the company’s stock valued at $130,285,000 after acquiring an additional 7,194 shares during the last quarter. 1834 Investment Advisors Co. boosted its holdings in shares of Eli Lilly and Company by 3.3% in the 3rd quarter. 1834 Investment Advisors Co. now owns 4,704 shares of the company’s stock valued at $2,526,000 after buying an additional 150 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 41.4% in the 3rd quarter. Simon Quick Advisors LLC now owns 2,649 shares of the company’s stock valued at $1,423,000 after purchasing an additional 775 shares during the last quarter. Finally, VeraBank N.A. grew its position in shares of Eli Lilly and Company by 1.9% during the third quarter. VeraBank N.A. now owns 3,747 shares of the company’s stock worth $2,013,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

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.