Eli Lilly and Company (NYSE:LLY) Trading Up 0.7% – Time to Buy?

Eli Lilly and Company (NYSE:LLY)’s stock price shot up 0.7% on Wednesday . The company traded as high as $921.35 and last traded at $919.69. 494,224 shares were traded during mid-day trading, a decline of 84% from the average session volume of 3,013,237 shares. The stock had previously closed at $913.72.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Citigroup started coverage on Eli Lilly and Company in a research report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target on the stock. Guggenheim boosted their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Stock Up 0.1 %

The stock has a market capitalization of $868.90 billion, a price-to-earnings ratio of 134.58, a PEG ratio of 2.78 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The business has a fifty day moving average of $904.41 and a 200 day moving average of $850.31.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. As a group, equities analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Institutional Investors Weigh In On Eli Lilly and Company

Large investors have recently modified their holdings of the company. Lynx Investment Advisory acquired a new stake in Eli Lilly and Company in the second quarter valued at about $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at approximately $36,000. Redmont Wealth Advisors LLC purchased a new position in Eli Lilly and Company in the 1st quarter valued at approximately $40,000. Morton Brown Family Wealth LLC boosted its position in Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares in the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in Eli Lilly and Company in the fourth quarter valued at $43,000. 82.53% of the stock is owned by institutional investors and hedge funds.

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.