Eli Lilly and Company (NYSE:LLY) Trading Up 1.8% - Here's Why

Eli Lilly and Company (NYSE:LLY - Get Free Report) shot up 1.8% during trading on Monday . The company traded as high as $853.10 and last traded at $852.43. 550,923 shares were traded during trading, a decline of 82% from the average session volume of 3,141,571 shares. The stock had previously closed at $837.57.

Analysts Set New Price Targets

LLY has been the topic of a number of recent analyst reports. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a research note on Thursday, March 6th. Wells Fargo & Company upped their price target on shares of 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. Truist Financial increased their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, StockNews.com raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,009.72.

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Eli Lilly and Company Trading Down 0.8 %

The company has a market capitalization of $777.28 billion, a price-to-earnings ratio of 70.01, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The business has a fifty day moving average price of $841.16 and a 200 day moving average price of $837.54. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share 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%. On average, equities analysts expect 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 initiated a stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.13% of the company's stock.

Institutional Trading of Eli Lilly and Company

A number of large investors have recently made changes to their positions in LLY. Fire Capital Management LLC acquired a new position in Eli Lilly and Company in the 4th quarter worth $1,028,000. Mascagni Wealth Management Inc. acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $43,000. Prostatis Group LLC acquired a new stake in Eli Lilly and Company during the fourth quarter worth approximately $275,000. Fairtree Asset Management Pty Ltd bought a new stake in Eli Lilly and Company in the 4th quarter valued at $345,000. Finally, DSG Capital Advisors LLC acquired a new position in shares of Eli Lilly and Company in the fourth quarter valued at about $22,566,000. Institutional investors own 82.53% of the company's stock.

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.