Eli Lilly and Company (NYSE:LLY) Trading Up 1.2% – Should You Buy?

Shares of Eli Lilly and Company (NYSE:LLY) were up 1.2% on Thursday . The company traded as high as $854.39 and last traded at $847.05. Approximately 721,260 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 3,119,818 shares. The stock had previously closed at $837.01.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LLY shares. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research report on Friday, January 17th. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. 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 report on Wednesday, March 5th. Citigroup lowered 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 report on Tuesday, January 28th. Finally, Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a report on Thursday, January 16th. Three investment 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Price Performance

The firm has a market cap of $797.23 billion, a PE ratio of 71.73, a PEG ratio of 1.40 and a beta of 0.34. The firm has a fifty day simple moving average of $834.04 and a two-hundred day simple moving average of $840.69. 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 released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share 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%. Equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a stock repurchase plan 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 plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value 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 $4,778,521.60. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors have recently modified their holdings of the stock. DSG Capital Advisors LLC bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $22,566,000. Chancellor Financial Group WB LP bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $840,000. Thoma Capital Management LLC bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $819,000. NorthCrest Asset Manangement LLC lifted its stake in shares of Eli Lilly and Company by 164.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 18,126 shares of the company’s stock worth $13,993,000 after acquiring an additional 11,280 shares during the last quarter. Finally, Members Wealth LLC bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $633,000. 82.53% of the stock is owned by institutional investors.

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.