Eli Lilly and Company (NYSE:LLY) Trading Up 0.7% - Here's What Happened

Eli Lilly and Company (NYSE:LLY - Get Free Report) rose 0.7% during mid-day trading on Friday . The stock traded as high as $872.00 and last traded at $865.49. Approximately 941,755 shares changed hands during trading, a decline of 73% from the average daily volume of 3,426,301 shares. The stock had previously closed at $859.73.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Guggenheim dropped their price objective on Eli Lilly and Company from $973.00 to $928.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Wells Fargo & Company increased 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 research report on Wednesday, March 5th. Finally, Citigroup lowered their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,017.00.

Eli Lilly and Company Stock Performance

The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock's 50-day simple moving average is $827.14 and its 200 day simple moving average is $818.81. The company has a market capitalization of $825.30 billion, a PE ratio of 74.34, a P/E/G ratio of 1.40 and a beta of 0.51.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $5.32 EPS 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%. As a group, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company's 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 completion of the sale, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after acquiring an additional 14,852,076 shares during the last quarter. Norges Bank purchased a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $8,407,908,000. Proficio Capital Partners LLC lifted its stake in shares of Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock worth $4,016,110,000 after acquiring an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 buying an additional 2,012,129 shares during the last quarter. Finally, Capital International Investors increased its position in shares of Eli Lilly and Company by 23.2% in the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after purchasing an additional 1,645,222 shares during the last quarter. Institutional investors and hedge funds 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.

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