Eli Lilly and Company (NYSE:LLY) Stock Price Up 1% - Here's Why

Key Points

• Eli Lilly and Company shares increased by 1% during mid-day trading, reaching a high of $700.62 before closing at $689.87.
• Recent analyst reports have mixed sentiments, with Hsbc Global Res downgrading the stock from "strong-buy" to "moderate sell," while others maintain a "buy" outlook.
• The company reported strong quarterly earnings, with $6.31 EPS, exceeding expectations, and revenue growth of 37.6% year-over-year.

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares rose 1% during mid-day trading on Friday . The stock traded as high as $700.62 and last traded at $689.87. Approximately 2,943,998 shares traded hands during trading, a decline of 29% from the average daily volume of 4,126,157 shares. The stock had previously closed at $682.93.

Analyst Upgrades and Downgrades

LLY has been the subject of several recent analyst reports. 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. Guggenheim decreased their price objective on shares of Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating for the company in a report on Wednesday. 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. Wall Street Zen raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Cantor Fitzgerald set a $825.00 price target on shares of Eli Lilly and Company and gave the company an "overweight" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $964.88.

Eli Lilly and Company Price Performance

The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. The stock has a market cap of $666.08 billion, a P/E ratio of 46.01, a P/E/G ratio of 0.93 and a beta of 0.44. The company's 50 day simple moving average is $765.92 and its 200 day simple moving average is $795.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $6.31 EPS for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The business had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. During the same quarter in the prior year, the company earned $3.92 EPS. The firm's quarterly revenue was up 37.6% on a year-over-year basis. As a group, equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is presently 39.22%.

Insider Activity at Eli Lilly and Company

In other news, Director Gabrielle Sulzberger bought 117 shares of the stock in a transaction on Tuesday, August 12th. The stock was purchased at an average price 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 approximately $1,733,109.54. This trade represents a 4.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Daniel Skovronsky bought 1,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were purchased at an average price of $634.40 per share, with a total value of $634,400.00. Following the acquisition, the executive vice president owned 137,660 shares in the company, valued at approximately $87,331,504. This represents a 0.73% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 4,514 shares of company stock valued at $2,894,841 over the last three months. Insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On Eli Lilly and Company

Several hedge funds have recently made changes to their positions in LLY. WestEnd Advisors LLC boosted its stake in shares of Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after buying an additional 21 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new position in Eli Lilly and Company during the first quarter valued at approximately $27,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in Eli Lilly and Company during the second quarter valued at approximately $27,000. Financial Gravity Companies Inc. acquired a new position in Eli Lilly and Company during the second quarter valued at approximately $31,000. Finally, Bare Financial Services Inc boosted its position in Eli Lilly and Company by 263.6% during the second quarter. Bare Financial Services Inc now owns 40 shares of the company's stock valued at $31,000 after purchasing an additional 29 shares during the last quarter. 82.53% of the stock is owned by 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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