Eli Lilly and Company (NYSE:LLY) Hits New 52-Week High - Time to Buy?

Key Points

• Eli Lilly and Company's stock has reached a new 52-week high, trading at $931.85 after previously closing at $906.86.
• The company reported a strong quarterly earnings result, with $7.02 EPS exceeding analysts' expectations and earning revenues of $17.60 billion, a 53.9% year-over-year increase.
• Eli Lilly has announced a quarterly dividend of $1.50 per share, set to be paid on December 10th, representing a 0.6% dividend yield.

Shares of Eli Lilly and Company (NYSE:LLY - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $936.51 and last traded at $931.8470, with a volume of 1079909 shares. The stock had previously closed at $906.86.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LLY shares. Hsbc Global Res upgraded Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, August 27th. Deutsche Bank Aktiengesellschaft dropped their price target on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Leerink Partnrs lowered Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. BMO Capital Markets boosted their price target on Eli Lilly and Company from $840.00 to $930.00 and gave the stock an "outperform" rating in a research note on Monday, October 20th. Finally, Leerink Partners restated a "market perform" rating and set a $715.00 price target on shares of Eli Lilly and Company in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $940.00.

Eli Lilly and Company Price Performance

The company has a market capitalization of $899.26 billion, a price-to-earnings ratio of 62.25, a P/E/G ratio of 1.21 and a beta of 0.43. The stock has a fifty day simple moving average of $788.17 and a 200-day simple moving average of $772.81. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The company reported $7.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.42 by $0.60. The company had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $16.09 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.Eli Lilly and Company's revenue for the quarter was up 53.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, November 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.6%. Eli Lilly and Company's dividend payout ratio is currently 29.35%.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, Director Gabrielle Sulzberger purchased 117 shares of the stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average cost of $641.18 per share, for a total transaction of $75,018.06. Following the acquisition, the director owned 2,703 shares in the company, valued at $1,733,109.54. This trade represents a 4.52% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Erik Fyrwald purchased 1,565 shares of the stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the completion of the acquisition, the director owned 74,578 shares in the company, valued at approximately $47,903,686.74. This trade represents a 2.14% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 4,514 shares of company stock worth $2,894,841. Insiders own 0.14% of the company's stock.

Hedge Funds Weigh In On Eli Lilly and Company

Several hedge funds have recently bought and sold shares of LLY. Wealth Preservation Advisors LLC acquired a new position in Eli Lilly and Company during the 1st quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at about $27,000. Evolution Wealth Management Inc. acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at about $29,000. Steph & Co. raised its position in Eli Lilly and Company by 290.0% in the 3rd quarter. Steph & Co. now owns 39 shares of the company's stock valued at $30,000 after purchasing an additional 29 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 82.53% of the company's stock.

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.

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