Eli Lilly and Company (NYSE:LLY) Trading Up 1.4% - Time to Buy?

Shares of Eli Lilly and Company (NYSE:LLY - Get Free Report) traded up 1.4% during mid-day trading on Wednesday . The company traded as high as $838.00 and last traded at $833.78. 618,952 shares changed hands during trading, a decline of 80% from the average session volume of 3,114,376 shares. The stock had previously closed at $822.51.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LLY shares. Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a research report on Thursday, March 6th. Citigroup decreased their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Bank of America reissued a "buy" rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company upped their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and an average target price of $1,009.72.

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Eli Lilly and Company Stock Down 0.4 %

The stock has a 50 day moving average price of $835.99 and a 200 day moving average price of $839.05. 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 company has a market capitalization of $795.93 billion, a P/E ratio of 71.69, a PEG ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a share buyback program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was 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 approximately $4,778,521.60. The trade was a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On Eli Lilly and Company

Several large investors have recently modified their holdings of LLY. Vanguard Group Inc. raised its stake in shares of Eli Lilly and Company by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock valued at $57,320,226,000 after purchasing an additional 475,530 shares during the period. Geode Capital Management LLC lifted its position in Eli Lilly and Company by 1.7% during the fourth 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 during the last quarter. Wellington Management Group LLP grew its position in Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares in the last quarter. Norges Bank bought a new position in Eli Lilly and Company in the fourth quarter valued at $8,407,908,000. Finally, Capital Research Global Investors increased its position in shares of 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 valued at $8,304,811,000 after purchasing an additional 1,493,673 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

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.