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

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

Analyst Ratings Changes

A number of brokerages recently weighed in on LLY. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research report on Thursday, January 16th. Citigroup reduced their price target on 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. Wells Fargo & Company upped their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research report on Friday, January 17th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Trading Down 0.1 %

The business has a 50 day moving average of $835.19 and a two-hundred day moving average of $840.70. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The firm has a market capitalization of $798.12 billion, a price-to-earnings ratio of 72.05, a P/E/G ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a stock repurchase program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Eli Lilly and Company

In related 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 completion of the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Institutional investors and hedge funds have recently modified their holdings of the business. CWA Asset Management Group LLC increased its position in shares of Eli Lilly and Company by 11.9% during the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after acquiring an additional 724 shares during the last quarter. Centerpoint Advisory Group bought a new position in Eli Lilly and Company during the fourth quarter valued at $514,000. M&T Bank Corp grew its holdings in Eli Lilly and Company by 0.7% during the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after purchasing an additional 1,867 shares during the period. Kentucky Trust Co bought a new position in Eli Lilly and Company during the fourth quarter valued at $834,000. Finally, Proficio Capital Partners LLC grew its holdings in Eli Lilly and Company by 30.2% during the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock valued at $5,202,000 after purchasing an additional 1,562 shares during the period. 82.53% of the stock is owned by hedge funds and other 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.