Eli Lilly and Company (NYSE:LLY) Trading 2.7% Higher Following Insider Buying Activity

Key Points

• Eli Lilly's stock price increased by 2.7% following recent insider buying activity, trading at $657.00.
• Director J Erik Fyrwald purchased 1,565 shares at an average price of $642.33, increasing his position by 2.14%.
• Analyst ratings for Eli Lilly include 16 buy ratings and a consensus target price of $973.71, indicating a generally positive outlook despite some recent downgrades.

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s share price traded up 2.7% during trading on Wednesday following insider buying activity. The stock traded as high as $657.50 and last traded at $657.00. 2,333,299 shares traded hands during trading, a decline of 43% from the average session volume of 4,080,922 shares. The stock had previously closed at $639.43.

Specifically, Director J Erik Fyrwald bought 1,565 shares of the company's stock in a transaction that occurred on 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 transaction, the director owned 74,578 shares of the company's stock, valued at $47,903,686.74. The trade was a 2.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gabrielle Sulzberger bought 117 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average cost of $641.18 per share, for a total transaction of $75,018.06. Following the transaction, the director directly owned 2,703 shares of the company's stock, valued at $1,733,109.54. This trade represents a 4.52% increase in their position. The disclosure for this purchase can be found here. In related news, EVP Daniel Skovronsky bought 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average price of $634.40 per share, with a total value of $634,400.00. Following the completion of the transaction, the executive vice president owned 137,660 shares of the company's stock, valued at $87,331,504. The trade was a 0.73% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

LLY has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a report on Monday. Cantor Fitzgerald initiated 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 on the stock. Leerink Partnrs downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Hsbc Global Res downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average target price of $973.71.

Eli Lilly and Company Stock Performance

The stock has a market capitalization of $621.60 billion, a price-to-earnings ratio of 42.94, a price-to-earnings-growth ratio of 0.89 and a beta of 0.44. The company has a 50 day simple moving average of $769.64 and a 200-day simple moving average of $797.19. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86.

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 the consensus estimate of $5.59 by $0.72. The firm had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The company's quarterly revenue was up 37.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.92 earnings per share. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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

Institutional Investors Weigh In On Eli Lilly and Company

Institutional investors have recently bought and sold shares of the stock. WestEnd Advisors LLC grew its holdings in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after buying an additional 21 shares in the last quarter. Wealth Preservation Advisors LLC bought a new stake in Eli Lilly and Company during the first quarter worth $27,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in Eli Lilly and Company during the second quarter worth $27,000. Financial Gravity Companies Inc. bought a new position in Eli Lilly and Company in the 2nd quarter valued at $31,000. Finally, Citizens National Bank Trust Department grew its stake in Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after purchasing an additional 27 shares during the period. Institutional investors own 82.53% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.