Shares of Eli Lilly and Company (NYSE:LLY - Get Free Report) shot up 0.5% during mid-day trading on Wednesday . The stock traded as high as $811.77 and last traded at $809.01. 416,007 shares were traded during trading, a decline of 87% from the average session volume of 3,300,234 shares. The stock had previously closed at $805.23.
Analyst Ratings Changes
Several analysts have issued reports on LLY shares. Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a research note on Thursday, March 6th. Bank of America reiterated a "buy" rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Truist Financial increased their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. 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, Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research report on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,009.72.
View Our Latest Stock Report on LLY
Eli Lilly and Company Trading Down 6.5 %
The firm has a market capitalization of $699.33 billion, a P/E ratio of 62.99, a PEG ratio of 1.40 and a beta of 0.34. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The firm has a 50 day moving average of $848.36 and a 200-day moving average of $832.44.
Eli Lilly and Company (NYSE:LLY - Get Free Report) last released 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 research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.
Eli Lilly and Company declared that its Board of Directors has approved a stock repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.
Insider Transactions at Eli Lilly and Company
In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Eli Lilly and Company
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Eli Lilly and Company by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock valued at $57,320,226,000 after acquiring an additional 475,530 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Eli Lilly and Company by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock valued at $13,389,651,000 after purchasing an additional 291,875 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares during the last quarter. Norges Bank acquired a new position in Eli Lilly and Company during the 4th quarter worth approximately $8,407,908,000. Finally, Capital Research Global Investors increased its position in Eli Lilly and Company by 16.1% during the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after purchasing an additional 1,493,673 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.
About Eli Lilly and Company
(
Get Free Report)
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.
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