Guggenheim raises its price target on Eli Lilly and Company (NYSE:LLY) to $1,030.00

VaselineAugust 19, 2024

0 4 minutes read

Eli Lilly and Company logo Eli Lilly and Company (NYSE:LLY – Free Report) Their price objective was upped by Guggenheim from $884.00 to $1,030.00 in a research note on Friday morning, Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other research firms have recently commented on LLY. Morgan Stanley reissued an overweight rating and set a $1,023.00 price objective on shares of Eli Lilly and Company in a report on Friday, July 5th. Truist Financial restated a buy rating and issued a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a hold rating to a buy rating and upped their target price for the stock from $725.00 to $1,025.00 in a research report on Monday, 12 August. BMO Capital Markets upped their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an outperform rating in a research report on Friday, August 9th. Finally, Berenberg Bank upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a buy rating in a research report on Wednesday, August 14th . Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $956.88.

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Eli Lilly and Company trades down 1.0%

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NYSE:LLY opened at $922.12 on Friday. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $966.10. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03, and a current ratio of 1.35. The stock has a fifty day moving average price of $878.93 and a two hundred day moving average price of $806.28. The stock has a market cap of $876.39 billion, a price-to-earnings ratio of 135.81, a PEG ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company announces dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a $1.30 dividend. The ex-dividend date is Thursday, August 15. This represents an annualized dividend of $5.20 and a dividend yield of 0.56%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider trading at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the transaction, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the sale, the insider now owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Also, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the transaction, the executive vice president now directly owns 25,428 shares in the company, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,214,704 shares of company stock worth $1,066,841,316. 0.13% of shares are owned by company insiders.

Institutional investors are weighing in on Eli Lilly and company

Several hedge funds have recently modified their holdings of LLY. Tidemark LLC purchased a new stake in Eli Lilly and Company during the fourth quarter valued at $29,000. Core Wealth Advisors Inc. raised its stake in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 32 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company during the second quarter valued at approximately $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company in the second quarter valued at approximately $36,000. Finally, Frank Rimerman Advisors LLC purchased a new position in Eli Lilly and Company in the fourth quarter valued at approximately $37,000. 82.53% of the shares are currently held by hedge funds and other institutional investors.

About Eli Lilly and Company

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Eli Lilly and Company discovers, develops and markets human pharmaceutical products 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.