Eli Lilly and Company (NYSE:LLY) Trading Up 8.2% - Still a Buy?

Key Points

• Eli Lilly's stock rose by 8.2% recently, reaching a high of $833.30, with trading volume significantly increasing to over 10 million shares.
• Analysts have mixed ratings for the company, with a consensus of a "Moderate Buy" and a target price averaging $939.61, although some analysts have adjusted their price targets downward.
• In Q2, Eli Lilly reported earnings of $6.31 per share, exceeding expectations, while annual revenue increased by 37.6% year-over-year, showcasing robust growth in its financial performance.

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s stock price was up 8.2% on Wednesday . The company traded as high as $833.30 and last traded at $825.92. Approximately 10,097,814 shares changed hands during mid-day trading, an increase of 145% from the average daily volume of 4,118,009 shares. The stock had previously closed at $763.00.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LLY shares. Cantor Fitzgerald cut their price target on shares of Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 13th. DZ Bank raised Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Leerink Partners reissued a "market perform" rating and set a $715.00 target price on shares of Eli Lilly and Company in a research note on Thursday, August 7th. Guggenheim lowered their target price on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. Finally, Leerink Partnrs cut Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average target price of $939.61.

Eli Lilly and Company Stock Up 8.2%

The company has a market capitalization of $781.70 billion, a P/E ratio of 53.98, a PEG ratio of 1.01 and a beta of 0.47. The firm's 50 day moving average price is $733.15 and its two-hundred day moving average price is $765.96. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.72. The company had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The business's quarterly revenue was up 37.6% on a year-over-year basis. During the same period last year, the business earned $3.92 EPS. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, Director Jamere Jackson purchased 200 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $639.56 per share, with a total value of $127,912.00. Following the purchase, the director directly owned 9,402 shares of the company's stock, valued at $6,013,143.12. The trade was a 2.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David A. Ricks bought 1,632 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the purchase, the chief executive officer directly owned 546,601 shares of the company's stock, valued at $352,431,926.77. This represents a 0.30% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 4,514 shares of company stock worth $2,894,841. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in Eli Lilly and Company by 97.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock valued at $83,669,349,000 after purchasing an additional 50,002,551 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Eli Lilly and Company by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 80,407,430 shares of the company's stock valued at $62,680,004,000 after purchasing an additional 1,183,038 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Eli Lilly and Company by 0.6% during the 1st quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company's stock valued at $10,495,261,000 after purchasing an additional 81,587 shares during the last quarter. Laurel Wealth Advisors LLC lifted its holdings in Eli Lilly and Company by 78,621.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company's stock valued at $9,005,392,000 after purchasing an additional 11,537,661 shares during the last quarter. Finally, Norges Bank acquired a new stake in Eli Lilly and Company during the 2nd quarter valued at $8,827,714,000. 82.53% of the stock is owned by institutional investors.

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.

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