Eli Lilly and Company (NYSE:LLY) Stock Price Up 6%

Eli Lilly and Company (NYSE:LLY) rose 6% on Tuesday . The company traded as high as $795.50 and last traded at $781.40. Approximately 3,705,738 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 3,022,472 shares. The stock had previously closed at $737.20.

Wall Street Analysts Forecast Growth

Several research firms have commented on LLY. Truist Financial restated a “buy” rating and issued a $850.00 target price on shares of Eli Lilly and Company in a research report on Friday, March 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective (up from $815.00) on shares of Eli Lilly and Company in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Barclays raised their price objective 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. Finally, TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $731.55.

Eli Lilly and Company Stock Up 5.5 %

The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $739.08 billion, a PE ratio of 134.43, a PEG ratio of 1.60 and a beta of 0.34. The business’s 50 day simple moving average is $760.89 and its 200 day simple moving average is $668.00.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same quarter in the prior year, the company earned $2.09 EPS. The company’s revenue was up 28.1% compared to the same quarter last year. On average, equities research analysts forecast that Eli Lilly and Company will post 12.51 earnings per share for the current year.

Insider Activity

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 78,573 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total value of $50,920,804.11. Following the completion of the transaction, the insider now directly owns 99,333,810 shares of the company’s stock, valued at $64,375,262,246.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Simon Quick Advisors LLC grew its holdings in shares of Eli Lilly and Company by 10.5% during the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock worth $1,706,000 after buying an additional 278 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new position in Eli Lilly and Company in the 4th quarter worth approximately $363,000. Terril Brothers Inc. boosted its holdings in shares of Eli Lilly and Company by 113.2% during the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after purchasing an additional 429 shares during the last quarter. Hartline Investment Corp increased its holdings in shares of Eli Lilly and Company by 1.1% in the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock valued at $12,786,000 after purchasing an additional 248 shares during the last quarter. Finally, Meritage Portfolio Management lifted its position in Eli Lilly and Company by 23.4% during the fourth quarter. Meritage Portfolio Management now owns 6,377 shares of the company’s stock worth $3,717,000 after buying an additional 1,208 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other 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.