Eli Lilly and Company (NYSE:LLY) Price Target Increased to $470.00 by Analysts at The Goldman Sachs Group

Posted by Defense World Staff on Aug 13th, 2023

Eli Lilly and Company (NYSE:LLY – Free Report) had its price target raised by The Goldman Sachs Group from $385.00 to $470.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts also recently commented on the company. Guggenheim dropped their price objective on Eli Lilly and Company from $395.00 to $392.00 and set a buy rating on the stock in a report on Tuesday, April 11th. Berenberg Bank increased their price objective on Eli Lilly and Company from $375.00 to $500.00 in a report on Tuesday, June 20th. Credit Suisse Group increased their price objective on Eli Lilly and Company from $490.00 to $580.00 and gave the stock an outperform rating in a report on Wednesday. Barclays upped their price objective on shares of Eli Lilly and Company from $500.00 to $590.00 and gave the stock an overweight rating in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $510.00 to $600.00 and gave the stock an overweight rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of Moderate Buy and an average target price of $517.00.

Read Our Latest Stock Report on LLY

Eli Lilly and Company Price Performance

Shares of LLY opened at $528.28 on Wednesday. The company has a market capitalization of $501.49 billion, a price-to-earnings ratio of 73.47, a P/E/G ratio of 2.05 and a beta of 0.35. Eli Lilly and Company has a fifty-two week low of $296.32 and a fifty-two week high of $538.00. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.13 and a quick ratio of 1.02. The business’s 50-day moving average is $458.58 and its 200-day moving average is $398.56.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last issued its earnings results on Tuesday, August 8th. The company reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.13. Eli Lilly and Company had a return on equity of 65.00% and a net margin of 22.01%. The company had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the prior year, the company earned $1.25 EPS. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. Equities research analysts expect that Eli Lilly and Company will post 9.91 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th will be issued a $1.13 dividend. The ex-dividend date is Monday, August 14th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 0.86%. Eli Lilly and Company’s dividend payout ratio (DPR) is 62.87%.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 600 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $435.29, for a total value of $261,174.00. Following the sale, the chief accounting officer now directly owns 5,978 shares in the company, valued at $2,602,163.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Donald A. Zakrowski sold 600 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $435.29, for a total transaction of $261,174.00. Following the sale, the chief accounting officer now owns 5,978 shares in the company, valued at $2,602,163.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $528.13, for a total value of $1,584,390.00. Following the sale, the insider now owns 100,696,849 shares in the company, valued at approximately $53,181,026,862.37. The disclosure for this sale can be found here. Insiders have sold a total of 755,017 shares of company stock worth $357,815,036 over the last three months. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Several institutional investors and hedge funds have recently bought and sold shares of the business. Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of Eli Lilly and Company by 4.8% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 82,966 shares of the company’s stock valued at $28,449,000 after purchasing an additional 3,768 shares during the last quarter. Ausdal Financial Partners Inc. grew its position in Eli Lilly and Company by 28.1% during the fourth quarter. Ausdal Financial Partners Inc. now owns 3,093 shares of the company’s stock worth $1,132,000 after buying an additional 679 shares in the last quarter. Cannell & Co. grew its position in Eli Lilly and Company by 1.5% during the fourth quarter. Cannell & Co. now owns 2,000 shares of the company’s stock worth $732,000 after buying an additional 30 shares in the last quarter. Patten & Patten Inc. TN grew its position in Eli Lilly and Company by 44.2% during the first quarter. Patten & Patten Inc. TN now owns 17,177 shares of the company’s stock worth $5,899,000 after buying an additional 5,266 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in Eli Lilly and Company during the first quarter worth approximately $859,000. Institutional investors own 87.25% of the company’s stock.

Eli Lilly and Company Company Profile

(Get Free Report)

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.