Eli Lilly and Company (NYSE:LLY) Stock Price Up 0.8% – Still a Buy?

Eli Lilly and Company (NYSE:LLY) traded up 0.8% during mid-day trading on Friday . The stock traded as high as $847.99 and last traded at $849.68. 1,125,164 shares were traded during mid-day trading, a decline of 64% from the average session volume of 3,130,410 shares. The stock had previously closed at $842.57.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research note on Friday, January 17th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Stock Performance

The company’s 50-day moving average price is $835.99 and its 200 day moving average price is $839.05. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock has a market capitalization of $795.93 billion, a PE ratio of 71.69, a PEG ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. On average, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has initiated a share repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Highline Wealth Partners LLC raised its holdings in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. FPC Investment Advisory Inc. raised its holdings in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new position in Eli Lilly and Company in the fourth quarter worth about $48,000. Compass Financial Services Inc purchased a new position in Eli Lilly and Company in the fourth quarter worth about $50,000. Finally, Fiduciary Advisors Inc. purchased a new position in Eli Lilly and Company in the fourth quarter worth about $58,000. 82.53% of the stock is 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.