Eli Lilly and Company (NYSE:LLY) Stock Price Up 0.2% – What’s Next?

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

Analysts Set New Price Targets

LLY has been the subject of a number of recent research reports. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a research report on Thursday, March 6th. Bank of America reissued 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. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Stock Down 0.3 %

The company’s 50-day moving average price is $842.43 and its 200 day moving average price is $837.43. 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 stock has a market cap of $776.68 billion, a PE ratio of 69.95, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has approved a share 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 repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other 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 transaction, the chief accounting officer now 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fire Capital Management LLC bought a new position in shares of Eli Lilly and Company in the fourth quarter worth approximately $1,028,000. Mascagni Wealth Management Inc. bought a new position in Eli Lilly and Company in the 4th quarter worth $43,000. Prostatis Group LLC purchased a new stake in Eli Lilly and Company in the 4th quarter worth $275,000. Fairtree Asset Management Pty Ltd bought a new stake in Eli Lilly and Company during the fourth quarter valued at about $345,000. Finally, DSG Capital Advisors LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at about $22,566,000. 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.