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

Eli Lilly and Company (NYSE:LLY) shot up 6% on Tuesday . The stock traded as high as $795.50 and last traded at $781.40. 3,705,738 shares were traded during trading, an increase of 23% from the average session volume of 3,022,472 shares. The stock had previously closed at $737.20.

Wall Street Analyst Weigh In

LLY has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. DZ Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective for the company. in a report on Wednesday, February 21st. Bank of America increased their price target on Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Finally, Truist Financial reissued a “buy” rating and set a $850.00 price objective on shares of Eli Lilly and Company in a report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $731.55.

Eli Lilly and Company Stock Up 5.5 %

The company has a market capitalization of $739.08 billion, a price-to-earnings ratio of 134.43, a P/E/G ratio of 1.60 and a beta of 0.34. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. The firm’s fifty day moving average price is $760.89 and its 200-day moving average price is $668.00.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.19. The business had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.09 earnings per share. Sell-side analysts expect that Eli Lilly and Company will post 12.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total value of $50,920,804.11. Following the sale, the insider now owns 99,333,810 shares of the company’s stock, valued at $64,375,262,246.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by insiders.

Institutional Trading of Eli Lilly and Company

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Eli Lilly and Company by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after acquiring an additional 659,838 shares during the period. Capital World Investors grew its stake in shares of Eli Lilly and Company by 0.3% during the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after buying an additional 89,720 shares during the period. Morgan Stanley boosted its stake in shares of Eli Lilly and Company by 0.7% in the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after purchasing an additional 83,915 shares during the period. Norges Bank acquired a new stake in Eli Lilly and Company during the 4th quarter valued at approximately $5,992,890,000. Finally, Northern Trust Corp increased its position in shares of Eli Lilly and Company by 3.6% in the 3rd quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock worth $5,456,314,000 after purchasing an additional 355,317 shares during the last quarter. 82.53% of the stock is 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.