Eli Lilly and Company (NYSE:LLY) Trading 0.8% Higher - Time to Buy?

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

Wall Street Analysts Forecast Growth

LLY has been the topic of several analyst reports. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Truist Financial raised their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Citigroup lowered their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company lifted their target price 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, Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research note on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and an average price target of $1,009.72.

Eli Lilly and Company Stock Down 1.5 %

The stock has a 50-day moving average price of $837.36 and a 200-day moving average price of $837.97. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company has a market capitalization of $807.76 billion, a P/E ratio of 72.85, a P/E/G ratio of 1.40 and a beta of 0.34.

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Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, research 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 of Directors has authorized a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Insider Transactions at Eli Lilly and Company

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 shares were 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 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 sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.13% of the company's stock.

Institutional Investors Weigh In On Eli Lilly and Company

Large investors have recently bought and sold shares of the stock. FWG Holdings LLC boosted its position in shares of Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock worth $1,640,000 after purchasing an additional 12 shares in the last quarter. Morling Financial Advisors LLC grew its stake in Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock valued at $205,000 after acquiring an additional 12 shares during the period. Prestige Wealth Management Group LLC increased its holdings in shares of Eli Lilly and Company by 2.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock valued at $468,000 after acquiring an additional 12 shares in the last quarter. Applied Finance Capital Management LLC raised its position in shares of Eli Lilly and Company by 1.4% during the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock worth $660,000 after purchasing an additional 12 shares during the period. Finally, Garner Asset Management Corp lifted its holdings in shares of Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after purchasing an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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.