Eli Lilly and Company (NYSE:LLY) Shares Up 0.8% – Here’s Why

Eli Lilly and Company (NYSE:LLY) rose 0.8% on Friday . The stock traded as high as $847.99 and last traded at $849.68. Approximately 1,125,164 shares changed hands during trading, a decline of 64% from the average daily volume of 3,130,410 shares. The stock had previously closed at $842.57.

Wall Street Analyst Weigh In

LLY has been the subject of several research reports. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Bank of America reaffirmed a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Citigroup cut their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company raised their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Finally, Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Stock Performance

The stock has a market cap of $798.12 billion, a PE ratio of 72.05, a P/E/G ratio of 1.40 and a beta of 0.34. The company has a fifty day moving average price of $835.19 and a 200 day moving average price of $840.70. 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 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. 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 approved a stock buyback program 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Several large investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its position in shares of Eli Lilly and Company by 5.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock worth $1,070,698,000 after purchasing an additional 60,306 shares in the last quarter. Quest Partners LLC boosted its position in shares of Eli Lilly and Company by 29.2% in the 3rd quarter. Quest Partners LLC now owns 1,053 shares of the company’s stock worth $933,000 after purchasing an additional 238 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in Eli Lilly and Company in the 3rd quarter worth approximately $10,115,000. First Horizon Advisors Inc. raised its holdings in Eli Lilly and Company by 0.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 10,057 shares of the company’s stock worth $8,910,000 after acquiring an additional 26 shares during the last quarter. Finally, Moran Wealth Management LLC raised its holdings in Eli Lilly and Company by 2.1% in the 3rd quarter. Moran Wealth Management LLC now owns 8,827 shares of the company’s stock worth $7,820,000 after acquiring an additional 180 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

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.