Eli Lilly and Company (NYSE:LLY) Trading 1.2% Higher – Here’s What Happened

Shares of Eli Lilly and Company (NYSE:LLY) traded up 1.2% during trading on Monday . The company traded as high as $829.00 and last traded at $822.89. 673,555 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 3,118,590 shares. The stock had previously closed at $813.48.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Truist Financial raised 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 note on Monday, February 3rd. 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 research note on Wednesday, March 5th. Citigroup dropped their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Finally, Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Price Performance

The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company’s fifty day moving average price is $833.02 and its 200 day moving average price is $840.71. The firm has a market capitalization of $779.08 billion, a price-to-earnings ratio of 70.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its board has initiated a share repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction 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 Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by insiders.

Institutional Trading of Eli Lilly and Company

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. DSG Capital Advisors LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $22,566,000. Chancellor Financial Group WB LP bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $840,000. Thoma Capital Management LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $819,000. NorthCrest Asset Manangement LLC raised its holdings in shares of Eli Lilly and Company by 164.8% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 18,126 shares of the company’s stock worth $13,993,000 after purchasing an additional 11,280 shares in the last quarter. Finally, Members Wealth LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $633,000. 82.53% of the stock is currently owned by institutional investors.

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.