Eli Lilly and Company (NYSE:LLY) Shares Up 1.4% – Here’s Why

Eli Lilly and Company (NYSE:LLY) shares traded up 1.4% during trading on Friday . The stock traded as high as $814.47 and last traded at $812.96. 852,269 shares were traded during mid-day trading, a decline of 73% from the average session volume of 3,120,229 shares. The stock had previously closed at $801.65.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LLY. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research note on Friday, January 17th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a report on Thursday, January 16th. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Truist Financial increased their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Trading Up 1.0 %

The firm has a market cap of $767.47 billion, a PE ratio of 69.09, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The company has a 50-day simple moving average of $830.18 and a 200 day simple moving average of $844.96. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. As a group, sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has initiated a share repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Several hedge funds and other institutional investors have recently made changes to their positions in LLY. CWA Asset Management Group LLC boosted its stake in Eli Lilly and Company by 11.9% during the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after purchasing an additional 724 shares during the last quarter. Centerpoint Advisory Group acquired a new position in Eli Lilly and Company during the fourth quarter worth about $514,000. M&T Bank Corp grew its stake in Eli Lilly and Company by 0.7% during the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after acquiring an additional 1,867 shares in the last quarter. Kentucky Trust Co acquired a new stake in Eli Lilly and Company in the 4th quarter valued at about $834,000. Finally, Cooper Financial Group lifted its stake in Eli Lilly and Company by 35.5% in the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after purchasing an additional 695 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Company Profile

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.