Eli Lilly and Company (NYSE:LLY) Trading 1.2% Higher – Time to Buy?

Eli Lilly and Company (NYSE:LLY) shot up 1.2% during trading on Monday . The stock traded as high as $829.00 and last traded at $822.89. 673,555 shares were traded 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 Upgrades and Downgrades

A number of research firms have weighed in on LLY. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Bank of America restated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research report on Friday, January 17th. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a report on Thursday, January 16th. Finally, Truist Financial boosted their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Stock Up 1.5 %

The company has a market capitalization of $782.89 billion, a price-to-earnings ratio of 70.56, a P/E/G ratio of 1.40 and a beta of 0.34. The stock’s fifty day moving average price is $830.81 and its 200-day moving average price is $842.50. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share 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%. On average, sell-side analysts predict 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 stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $8,407,908,000. Proficio Capital Partners LLC raised its position in Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after acquiring an additional 5,197,038 shares during the period. Wellington Management Group LLP boosted its stake in Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after acquiring an additional 2,012,129 shares during the last quarter. Capital International Investors grew its position in shares of Eli Lilly and Company by 23.2% during the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock valued at $6,740,272,000 after acquiring an additional 1,645,222 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $1,240,653,000. 82.53% of the stock is 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.