Eli Lilly and Company (NYSE:LLY) Trading Up 2.6% – Here’s Why

Shares of Eli Lilly and Company (NYSE:LLY) rose 2.6% during trading on Tuesday . The company traded as high as $796.18 and last traded at $793.69. 1,150,802 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 3,640,139 shares. The stock had previously closed at $773.71.

Analyst Upgrades and Downgrades

Several brokerages have commented on LLY. Erste Group Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. UBS Group decreased their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price objective on the stock. Finally, Guggenheim reissued a “buy” rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $1,011.37.

Eli Lilly and Company Trading Up 3.5%

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 firm has a market cap of $758.92 billion, a price-to-earnings ratio of 68.38, a PEG ratio of 1.40 and a beta of 0.40. The company has a fifty day moving average price of $769.95 and a 200-day moving average price of $800.81.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The business had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. During the same quarter last year, the firm earned $2.58 earnings per share. The firm’s quarterly revenue was up 45.2% compared to the same quarter last year. As a group, research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.75%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 48.82%.

Insider Buying and Selling at Eli Lilly and Company

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

Institutional Investors Weigh In On Eli Lilly and Company

A number of large investors have recently made changes to their positions in the stock. Elevate Capital Advisors LLC acquired a new position in Eli Lilly and Company in the 4th quarter valued at about $262,000. Capital & Planning LLC raised its position in shares of Eli Lilly and Company by 15.6% during the 4th quarter. Capital & Planning LLC now owns 481 shares of the company’s stock valued at $371,000 after buying an additional 65 shares during the period. Garner Asset Management Corp lifted its holdings in Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after acquiring an additional 12 shares during the last quarter. Brighton Jones LLC grew its position in Eli Lilly and Company by 22.0% in the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company’s stock worth $7,409,000 after acquiring an additional 1,730 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Eli Lilly and Company in the fourth quarter valued at $49,534,000. 82.53% of the stock is currently 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.