Eli Lilly and Company (NYSE:LLY) Shares Up 1.7% - Here's Why

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares traded up 1.7% during mid-day trading on Friday . The company traded as high as $775.96 and last traded at $774.32. 1,308,036 shares traded hands during trading, a decline of 65% from the average session volume of 3,786,137 shares. The stock had previously closed at $761.50.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Guggenheim raised their target price on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price for the company. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Finally, Wall Street Zen cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,012.56.

Eli Lilly and Company Price Performance

The firm has a market cap of $732.07 billion, a P/E ratio of 63.01, a price-to-earnings-growth ratio of 1.15 and a beta of 0.40. The business has a 50-day moving average of $766.32 and a two-hundred day moving average of $799.83. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued 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). The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business's revenue for the quarter was up 45.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.58 earnings per share. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Hedge Funds Weigh In On Eli Lilly and Company

A number of hedge funds have recently added to or reduced their stakes in the company. Knightsbridge Asset Management LLC boosted its holdings in Eli Lilly and Company by 1.9% in the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock worth $628,000 after buying an additional 15 shares during the period. LS Investment Advisors LLC raised its holdings in shares of Eli Lilly and Company by 1.7% during the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock worth $1,933,000 after acquiring an additional 40 shares in the last quarter. Prism Advisors Inc. purchased a new stake in shares of Eli Lilly and Company during the 1st quarter worth approximately $207,000. CSM Advisors LLC increased its position in Eli Lilly and Company by 30.6% in the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after purchasing an additional 245 shares during the last quarter. Finally, Bfsg LLC increased its position in Eli Lilly and Company by 1.4% in the first quarter. Bfsg LLC now owns 2,959 shares of the company's stock worth $2,444,000 after purchasing an additional 42 shares during the last quarter. 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.

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