Eli Lilly and Company (NYSE:LLY) Shares Up 0.6% – Still a Buy?

Eli Lilly and Company (NYSE:LLY)’s share price shot up 0.6% during mid-day trading on Thursday . The company traded as high as $929.70 and last traded at $921.91. 497,257 shares traded hands during trading, a decline of 83% from the average session volume of 2,979,402 shares. The stock had previously closed at $916.42.

Analysts Set New Price Targets

LLY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Jefferies Financial Group boosted their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Citigroup began coverage on shares of Eli Lilly and Company in a report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Finally, Barclays increased their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Eli Lilly and Company Price Performance

The company has a 50-day moving average of $921.21 and a 200 day moving average of $857.37. The firm has a market cap of $872.34 billion, a P/E ratio of 135.18, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. On average, sell-side analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current year.

Institutional Trading of Eli Lilly and Company

Several hedge funds have recently modified their holdings of the company. Lynx Investment Advisory bought a new position in Eli Lilly and Company in the 2nd quarter valued at $32,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company in the second quarter valued at about $36,000. Cedar Mountain Advisors LLC increased its position in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares during the period. Morton Brown Family Wealth LLC lifted its position in Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the period. Finally, Unique Wealth Strategies LLC bought a new position in shares of Eli Lilly and Company in the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

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.