Eli Lilly and Company (NYSE:LLY) Shares Up 1.6%

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s stock price rose 1.6% during mid-day trading on Monday . The company traded as high as $768.00 and last traded at $763.53. Approximately 810,891 shares changed hands during trading, a decline of 74% from the average daily volume of 3,070,517 shares. The stock had previously closed at $751.64.

Analysts Set New Price Targets

LLY has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their price target on Eli Lilly and Company from $650.00 to $723.00 and gave the company a "neutral" rating in a report on Thursday. Erste Group Bank raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Wednesday, April 3rd. Wells Fargo & Company upped their price target on Eli Lilly and Company from $700.00 to $825.00 and gave the company an "overweight" rating in a report on Tuesday, February 6th. Morgan Stanley upped their price target on Eli Lilly and Company from $805.00 to $950.00 and gave the company an "overweight" rating in a report on Friday, February 16th. Finally, Barclays upped their price objective on Eli Lilly and Company from $680.00 to $810.00 and gave the company an "overweight" rating in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $728.05.

Eli Lilly and Company Stock Performance

The business has a 50 day moving average of $761.77 and a 200 day moving average of $654.08. The company has a market capitalization of $713.76 billion, a P/E ratio of 129.44, a price-to-earnings-growth ratio of 1.65 and a beta of 0.34. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.19. The company had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.95 billion. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The firm's revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.09 earnings per share. On average, sell-side analysts predict that Eli Lilly and Company will post 12.46 earnings per share for the current year.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the firm's stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total value of $50,920,804.11. Following the completion of the sale, the insider now directly owns 99,333,810 shares of the company's stock, valued at approximately $64,375,262,246.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 133,785 shares of company stock valued at $86,537,034 in the last ninety days. Insiders own 0.13% of the company's stock.

Institutional Investors Weigh In On Eli Lilly and Company

Several hedge funds and other institutional investors have recently modified their holdings of LLY. Lipe & Dalton purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth approximately $26,000. Thompson Investment Management Inc. purchased a new stake in shares of Eli Lilly and Company in the third quarter worth approximately $27,000. Retirement Group LLC increased its holdings in Eli Lilly and Company by 159.1% during the 2nd quarter. Retirement Group LLC now owns 57 shares of the company's stock worth $27,000 after purchasing an additional 35 shares during the period. Tidemark LLC purchased a new position in Eli Lilly and Company during the 4th quarter worth $29,000. Finally, Core Wealth Advisors Inc. increased its holdings in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company's stock worth $29,000 after purchasing an additional 32 shares during the period. 82.53% of the stock is currently owned by hedge funds and other 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.