Eli Lilly and Company (NYSE:LLY) Stock Price Up 1.2% – Should You Buy?

Eli Lilly and Company (NYSE:LLY)’s stock price rose 1.2% during trading on Thursday . The company traded as high as $854.39 and last traded at $847.05. Approximately 721,260 shares changed hands during trading, a decline of 77% from the average daily volume of 3,119,818 shares. The stock had previously closed at $837.01.

Analysts Set New Price Targets

LLY has been the topic of a number of research reports. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Citigroup reduced their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Stock Performance

The firm’s fifty day moving average price is $835.99 and its 200 day moving average price is $839.87. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $795.93 billion, a price-to-earnings ratio of 71.69, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eli Lilly and Company

A number of large investors have recently modified their holdings of the company. Prostatis Group LLC purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $275,000. Fairtree Asset Management Pty Ltd purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $345,000. DSG Capital Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $22,566,000. Chancellor Financial Group WB LP purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $840,000. Finally, Thoma Capital Management LLC purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $819,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.