Eli Lilly and Company (NYSE:LLY) Trading 0.2% Higher – Here’s What Happened

Eli Lilly and Company (NYSE:LLY) shares traded up 0.2% during trading on Friday . The company traded as high as $826.97 and last traded at $823.15. 521,112 shares changed hands during trading, a decline of 83% from the average session volume of 3,143,480 shares. The stock had previously closed at $821.67.

Analysts Set New Price Targets

Several research firms have recently weighed in on LLY. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Wells Fargo & Company increased their target price on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Citigroup decreased their price objective 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. Finally, Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, 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 Stock Performance

The firm’s 50-day moving average price is $844.31 and its 200 day moving average price is $836.37. The company has a market cap of $777.78 billion, a price-to-earnings ratio of 70.05, a PEG ratio of 1.40 and a beta of 0.34. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY) last issued its 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%. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has authorized a stock repurchase plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC increased its stake in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after purchasing an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after acquiring an additional 24,879 shares during the period. Mascagni Wealth Management Inc. bought a new stake in Eli Lilly and Company in the 4th quarter valued at $43,000. FPC Investment Advisory Inc. increased its holdings in Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares in the last quarter. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $48,000. 82.53% of the stock is owned by institutional investors and hedge funds.

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.