Eli Lilly and Company (NYSE:LLY) Stock Price Up 2.5% - Here's Why

Eli Lilly and Company (NYSE:LLY - Get Free Report) shot up 2.5% during trading on Monday . The company traded as high as $756.00 and last traded at $750.42. 879,876 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 3,376,900 shares. The stock had previously closed at $732.41.

Analyst Ratings Changes

LLY has been the subject of a number of analyst reports. Truist Financial raised their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research note on Friday, January 17th. Guggenheim reduced their price target on Eli Lilly and Company from $973.00 to $928.00 and set a "buy" rating for the company in a research report on Monday. StockNews.com upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Finally, Morgan Stanley reduced their price target on shares of Eli Lilly and Company from $1,146.00 to $1,124.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,012.00.

Eli Lilly and Company Stock Performance

The stock has a 50 day simple moving average of $829.56 and a two-hundred day simple moving average of $820.64. The company has a market capitalization of $798.08 billion, a price-to-earnings ratio of 71.88, a PEG ratio of 1.40 and a beta of 0.51. 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 issued its 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 net margin of 23.51% and a return on equity of 85.24%. As a group, analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated 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 owns 5,840 shares of the company's stock, valued at $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors have recently added to or reduced their stakes in LLY. Principal Financial Group Inc. boosted its holdings in Eli Lilly and Company by 5.3% during the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company's stock worth $1,070,698,000 after buying an additional 60,306 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Eli Lilly and Company by 0.7% during the third quarter. M&T Bank Corp now owns 266,822 shares of the company's stock valued at $236,389,000 after buying an additional 1,867 shares during the period. Invst LLC increased its position in Eli Lilly and Company by 3.5% during the third quarter. Invst LLC now owns 5,552 shares of the company's stock worth $4,918,000 after purchasing an additional 189 shares during the last quarter. McIlrath & Eck LLC increased its holdings in shares of Eli Lilly and Company by 3.4% during the 3rd quarter. McIlrath & Eck LLC now owns 481 shares of the company's stock worth $426,000 after buying an additional 16 shares during the last quarter. Finally, Virtu Financial LLC raised its holdings in shares of Eli Lilly and Company by 111.7% in the 3rd quarter. Virtu Financial LLC now owns 6,531 shares of the company's stock worth $5,786,000 after purchasing an additional 3,446 shares during the period. Hedge funds and other 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.