Eli Lilly and Company (NYSE:LLY) Trading 1.9% Higher - Here's What Happened

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares rose 1.9% during mid-day trading on Wednesday . The stock traded as high as $752.29 and last traded at $743.74. Approximately 1,428,609 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 3,169,254 shares. The stock had previously closed at $729.73.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LLY shares. Citigroup raised their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Berenberg Bank lifted their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an "outperform" rating and a $1,100.00 price objective on the stock. Wells Fargo & Company increased their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,007.94.

Eli Lilly and Company Stock Performance

The firm's 50-day moving average price is $875.60 and its two-hundred day moving average price is $870.81. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $712.38 billion, a PE ratio of 80.40, a P/E/G ratio of 2.82 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion during the quarter, compared to analysts' expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 EPS. As a group, research analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company's dividend payout ratio is currently 56.22%.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.13% of the company's stock.

Institutional Investors Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently made changes to their positions in LLY. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company in the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at $30,000. Lynx Investment Advisory bought a new stake in Eli Lilly and Company in the second quarter worth $32,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company during the second quarter worth $36,000. Finally, Cedar Mountain Advisors LLC raised its holdings in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company's stock valued at $41,000 after buying an additional 16 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.

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