Eli Lilly and Company (NYSE:LLY) Trading Up 1.4% - Here's Why

Eli Lilly and Company (NYSE:LLY - Get Free Report) was up 1.4% during mid-day trading on Thursday . The company traded as high as $795.44 and last traded at $797.90. Approximately 705,983 shares traded hands during trading, a decline of 81% from the average daily volume of 3,657,286 shares. The stock had previously closed at $786.92.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LLY shares. Morgan Stanley restated an "overweight" rating and set a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Wall Street Zen downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 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. Finally, HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their target price for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued 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 $1,012.22.

Eli Lilly and Company Trading Up 0.8%

The firm has a market capitalization of $751.55 billion, a P/E ratio of 64.46, a price-to-earnings-growth ratio of 1.14 and a beta of 0.40. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The firm's 50-day simple moving average is $767.12 and its 200-day simple moving average is $800.05.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The business had revenue of $12.73 billion during 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 company's revenue was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.58 earnings per share. Analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company 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 $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Garner Asset Management Corp lifted its stake in Eli Lilly and Company by 2.3% during the 4th 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 period. Brighton Jones LLC lifted its stake in Eli Lilly and Company by 22.0% during the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after acquiring an additional 1,730 shares during the period. Revolve Wealth Partners LLC lifted its stake in Eli Lilly and Company by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock valued at $1,136,000 after acquiring an additional 40 shares during the period. Orion Capital Management LLC lifted its stake in Eli Lilly and Company by 2.5% during the 4th quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock valued at $1,243,000 after acquiring an additional 40 shares during the period. Finally, Bank Pictet & Cie Europe AG lifted its stake in Eli Lilly and Company by 4.1% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock valued at $49,993,000 after acquiring an additional 2,568 shares during the period. 82.53% of the stock is 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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