Eli Lilly and Company (NYSE:LLY) Given New $1,250.00 Price Target at Citigroup

Eli Lilly and Company (NYSE:LLY) had its target price boosted by Citigroup from $1,060.00 to $1,250.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also commented on LLY. BMO Capital Markets increased their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Guggenheim increased their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their target price 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 note on Friday, September 13th. Barclays increased their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.41.

Eli Lilly and Company Price Performance

Shares of LLY traded up $1.38 during mid-day trading on Friday, reaching $892.70. The company had a trading volume of 2,228,327 shares, compared to its average volume of 2,958,893. The company’s 50-day moving average is $919.74 and its 200-day moving average is $861.75. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The company has a market capitalization of $848.45 billion, a P/E ratio of 109.92, a P/E/G ratio of 3.24 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.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, equities analysts anticipate that Eli Lilly and Company will post 14.05 EPS for the current year.

Hedge Funds Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently modified their holdings of LLY. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company during the second quarter worth $32,000. LGT Financial Advisors LLC bought a new position in shares of Eli Lilly and Company during the second quarter worth about $36,000. Redmont Wealth Advisors LLC acquired a new stake in Eli Lilly and Company in the 1st quarter valued at approximately $40,000. Morton Brown Family Wealth LLC boosted its position in Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the last quarter. Finally, Cedar Mountain Advisors LLC grew its stake in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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.