Eli Lilly and Company (NYSE:LLY) Hits New 52-Week High – Time to Buy?

Eli Lilly and Company (NYSE:LLY) hit a new 52-week high during trading on Thursday. The stock traded as high as $1,455.02 and last traded at $1,448.1290, with a volume of 61,831 shares. The stock had previously closed at $1,437.29.

Eli Lilly and Company News Summary

Here’s some of the latest news about LLY:

• Positive Sentiment: China approved orforglipron, sold as Foundayo, for weight loss—reported as the country’s first approved GLP-1 weight-loss pill. The approval gives Lilly an opportunity in a large market where a competing oral Wegovy is still awaiting a decision; J.P. Morgan estimates China’s GLP-1 weight-management market could reach 30 billion yuan. Reuters: China approves Eli Lilly’s weight loss pill orforglipron
• Positive Sentiment: Phase 3b results showed that combining Zepbound with Taltz produced greater and durable improvement in psoriatic arthritis disease activity than Taltz alone, broadening the potential use of Lilly’s medicines. Phase 3b Taltz and Zepbound results
• Positive Sentiment: Analyst commentary highlighted Lilly’s expanding obesity pipeline, including Foundayo and investigational candidates retatrutide and EloraTZP, as a potential source of continued GLP-1 leadership. A reported analyst upgrade also added support for the shares. Zacks: Lilly’s expanding obesity pipeline

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. HSBC increased their price objective on Eli Lilly and Company from $850.00 to $940.00 and gave the company a “reduce” rating in a research note on Thursday, September 10th. Jefferies Financial Group increased their price target on shares of Eli Lilly and Company from $1,610.00 to $1,700.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group restated a “buy” rating and set a $1,413.00 price target on shares of Eli Lilly and Company in a report on Tuesday, October 20th. Berenberg Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and set a $1,400.00 price target on the stock in a research report on Tuesday, September 15th. Finally, Truist Financial reiterated a “buy” rating and issued a $1,612.00 price objective (up from $1,376.00) on shares of Eli Lilly and Company in a report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,416.64.

Eli Lilly and Company Price Performance

The company has a fifty day moving average of $1,231.13 and a 200-day moving average of $1,106.42. The company has a current ratio of 1.39, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The stock has a market cap of $1.36 trillion, a PE ratio of 46.86, a P/E/G ratio of 1.72 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, October 29th. The company reported $7.48 EPS for the quarter, beating analysts’ consensus estimates of $5.71 by $1.77. Eli Lilly and Company had a return on equity of 86.76% and a net margin of 31.90%. The company had revenue of $24.40 billion during the quarter, compared to analysts’ expectations of $22.58 billion. During the same period last year, the business posted $7.02 EPS. Eli Lilly and Company’s revenue for the quarter was up 38.6% on a year-over-year basis. Sell-side analysts expect that Eli Lilly and Company will post 35.67 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be paid a dividend of $1.73 per share. The ex-dividend date is Friday, November 13th. This represents a $6.92 dividend on an annualized basis and a yield of 0.5%. Eli Lilly and Company’s dividend payout ratio is 22.46%.

Insider Activity

In other news, EVP Anat Hakim sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $1,402.52, for a total value of $7,012,600.00. Following the completion of the transaction, the executive vice president owned 4,137 shares of the company’s stock, valued at approximately $5,802,225.24. This trade represents a 54.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrik Jonsson sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $1,175.10, for a total transaction of $7,638,150.00. Following the completion of the transaction, the executive vice president directly owned 54,147 shares of the company’s stock, valued at approximately $63,628,139.70. The trade was a 10.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eli Lilly and Company

A number of hedge funds have recently added to or reduced their stakes in LLY. Marshall & Sterling Wealth Advisors Inc. increased its stake in shares of Eli Lilly and Company by 60.0% during the first quarter. Marshall & Sterling Wealth Advisors Inc. now owns 40 shares of the company’s stock worth $37,000 after buying an additional 15 shares during the period. Torren Management LLC lifted its stake in Eli Lilly and Company by 357.1% in the third quarter. Torren Management LLC now owns 32 shares of the company’s stock worth $37,000 after acquiring an additional 25 shares during the last quarter. AlphaCentric Advisors LLC acquired a new position in Eli Lilly and Company during the 1st quarter worth approximately $42,000. Foresight Capital Management Advisors Inc. acquired a new position in Eli Lilly and Company during the 3rd quarter worth approximately $49,000. Finally, Sumitomo Mitsui Financial Group Inc. increased its position in shares of Eli Lilly and Company by 5,100.0% in the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 52 shares of the company’s stock valued at $60,000 after purchasing an additional 51 shares during 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 is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for people and animals. Its work spans areas including diabetes and obesity, cancer, immunology, neuroscience and pain management. The company’s medicines include treatments for diabetes and obesity, such as Mounjaro and Zepbound, as well as products for cancer and other conditions. Lilly also conducts research into new medicines and invests in the development of treatments across its therapeutic areas.