Eli Lilly and Company (NYSE:LLY) Stock Price Up 2.4% - Should You Buy?

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s stock price traded up 2.4% on Tuesday . The stock traded as high as $792.69 and last traded at $791.05. 804,145 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 3,652,613 shares. The stock had previously closed at $772.87.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. UBS Group decreased their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their target price for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,011.61.

Eli Lilly and Company Price Performance

The company has a market capitalization of $737.27 billion, a PE ratio of 63.30, a P/E/G ratio of 1.13 and a beta of 0.40. The company's 50-day simple moving average is $769.37 and its 200-day simple moving average is $800.14. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm's revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.58 EPS. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed 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. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, August 15th. 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 and other institutional investors have recently added to or reduced their stakes in LLY. WestEnd Advisors LLC boosted its holdings in Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after acquiring an additional 21 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new position in Eli Lilly and Company in the first quarter valued at $27,000. Citizens National Bank Trust Department boosted its holdings in Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after acquiring an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Eli Lilly and Company in the first quarter valued at $40,000. Finally, TD Capital Management LLC increased its position in shares of Eli Lilly and Company by 129.2% in the first quarter. TD Capital Management LLC now owns 55 shares of the company's stock worth $46,000 after acquiring an additional 31 shares in the last quarter. 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.