Eli Lilly and Company (NYSE:LLY) Stock Price Up 1.3% – Time to Buy?

Eli Lilly and Company (NYSE:LLY) shot up 1.3% during mid-day trading on Monday . The company traded as high as $903.87 and last traded at $898.35. 704,500 shares changed hands during trading, a decline of 77% from the average session volume of 3,019,046 shares. The stock had previously closed at $887.16.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. Guggenheim lifted their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Jefferies Financial Group upped their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,025.00 target price on shares of Eli Lilly and Company in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company Price Performance

The company has a 50-day moving average of $900.13 and a 200 day moving average of $848.40. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $855.39 billion, a PE ratio of 132.56, a PEG ratio of 2.78 and a beta of 0.42.

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 analysts’ consensus estimates of $2.64 by $1.28. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. Sell-side analysts predict that Eli Lilly and Company will post 16.49 EPS for the current year.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Institutional investors have recently made changes to their positions in the company. Lynx Investment Advisory acquired a new position in shares of Eli Lilly and Company in the 2nd quarter valued at $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company during the second quarter worth about $36,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the first quarter valued at about $40,000. Morton Brown Family Wealth LLC raised its stake in shares of Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after acquiring an additional 15 shares during the period. Finally, Richardson Financial Services Inc. acquired a new stake in Eli Lilly and Company in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

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.