Eli Lilly and Company (NYSE:LLY) Trading Up 0.4% – Should You Buy?

Eli Lilly and Company (NYSE:LLY) shot up 0.4% during trading on Monday . The company traded as high as $805.35 and last traded at $798.65. 965,597 shares traded hands during trading, a decline of 70% from the average session volume of 3,202,716 shares. The stock had previously closed at $795.35.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LLY shares. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Barclays cut their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $1,007.94.

Eli Lilly and Company Stock Performance

The firm’s 50 day moving average price is $851.90 and its 200-day moving average price is $870.85. The firm has a market cap of $756.95 billion, a price-to-earnings ratio of 86.34, a P/E/G ratio of 3.01 and a beta of 0.43. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. On average, analysts anticipate that Eli Lilly and Company will post 13.2 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 0.65%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is presently 56.22%.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

A number of institutional investors and hedge funds have recently bought and sold shares of LLY. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company in the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company in the 3rd quarter worth approximately $30,000. Lynx Investment Advisory acquired a new position in Eli Lilly and Company during the 2nd quarter worth $32,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company in the 2nd quarter valued at $36,000. Finally, Cedar Mountain Advisors LLC increased its stake in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares during the period. Institutional investors and hedge funds 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.