Eli Lilly and Company (NYSE:LLY) Shares Up 2% – Time to Buy?

Eli Lilly and Company (NYSE:LLY)’s share price rose 2% during mid-day trading on Friday . The company traded as high as $888.53 and last traded at $890.68. Approximately 971,711 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 3,670,633 shares. The stock had previously closed at $873.12.

Analysts Set New Price Targets

LLY has been the subject of a number of recent research reports. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research note on Friday, January 17th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Bank of America reiterated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,000.28.

Eli Lilly and Company Stock Up 0.1 %

The business’s fifty day moving average price is $801.33 and its 200 day moving average price is $847.13. The firm has a market capitalization of $828.82 billion, a price-to-earnings ratio of 74.65, a PEG ratio of 1.40 and a beta of 0.42. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last announced 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%. On average, equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 51.24%.

Eli Lilly and Company declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Eli Lilly and Company

Several institutional investors have recently bought and sold shares of the company. Inscription Capital LLC increased its stake in Eli Lilly and Company by 1.0% in the 3rd quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock valued at $1,083,000 after buying an additional 12 shares during the period. FWG Holdings LLC increased its stake in Eli Lilly and Company by 0.6% in the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock valued at $1,640,000 after buying an additional 12 shares during the period. Morling Financial Advisors LLC increased its stake in Eli Lilly and Company by 4.7% in the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after buying an additional 12 shares during the period. Prestige Wealth Management Group LLC increased its stake in Eli Lilly and Company by 2.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock valued at $468,000 after buying an additional 12 shares during the period. Finally, Applied Finance Capital Management LLC increased its stake in Eli Lilly and Company by 1.4% in the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company’s stock valued at $660,000 after buying an additional 12 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

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.