Eli Lilly and Company (NYSE:LLY) Stock Price Up 1.2% – Should You Buy?

Eli Lilly and Company (NYSE:LLY) rose 1.2% during trading on Thursday . The company traded as high as $854.39 and last traded at $847.05. Approximately 721,260 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 3,119,818 shares. The stock had previously closed at $837.01.

Wall Street Analyst Weigh In

LLY has been the topic of a number of recent analyst reports. Citigroup dropped their target price 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 report on Tuesday, January 28th. 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. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research report on Friday, January 17th. Wells Fargo & Company increased 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. Finally, Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently 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 current ratio of 1.15 and a quick ratio of 0.97. The company’s 50 day moving average is $835.99 and its 200 day moving average is $839.87. The stock has a market cap of $795.93 billion, a price-to-earnings ratio of 71.69, a PEG 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 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%. Research 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 has authorized a stock buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’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 completion of the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently modified their holdings of LLY. Principal Financial Group Inc. grew its holdings in shares of Eli Lilly and Company by 5.3% during the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock worth $1,070,698,000 after buying an additional 60,306 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Eli Lilly and Company during the third quarter worth about $10,115,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Eli Lilly and Company during the third quarter worth about $1,449,000. Thompson Siegel & Walmsley LLC grew its holdings in shares of Eli Lilly and Company by 18.8% during the third quarter. Thompson Siegel & Walmsley LLC now owns 2,549 shares of the company’s stock worth $2,258,000 after buying an additional 403 shares in the last quarter. Finally, HealthInvest Partners AB grew its holdings in shares of Eli Lilly and Company by 12.6% during the third quarter. HealthInvest Partners AB now owns 30,564 shares of the company’s stock worth $27,078,000 after buying an additional 3,420 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other 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.