Eli Lilly and Company (NYSE:LLY) Stock Price Up 0.6% – Time to Buy?

Eli Lilly and Company (NYSE:LLY)’s share price was up 0.6% during mid-day trading on Thursday . The stock traded as high as $929.70 and last traded at $921.91. Approximately 497,257 shares changed hands during trading, a decline of 83% from the average daily volume of 2,979,402 shares. The stock had previously closed at $916.42.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LLY shares. Jefferies Financial Group upped their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Guggenheim upped their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. BMO Capital Markets boosted their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $986.00.

Eli Lilly and Company Price Performance

The company has a 50 day simple moving average of $919.25 and a 200 day simple moving average of $855.84. The company has a market capitalization of $872.25 billion, a price-to-earnings ratio of 135.74, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. As a group, research analysts predict that Eli Lilly and Company will post 16.49 EPS for the current year.

Hedge Funds Weigh In On Eli Lilly and Company

A number of hedge funds have recently made changes to their positions in LLY. Lynx Investment Advisory acquired a new position in shares of Eli Lilly and Company during the second quarter worth about $32,000. LGT Financial Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at about $36,000. Cedar Mountain Advisors LLC lifted its position in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares in the last quarter. Morton Brown Family Wealth LLC boosted its holdings in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the period. Finally, Unique Wealth Strategies LLC acquired a new stake in Eli Lilly and Company in the second quarter valued at approximately $45,000. 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.