Eli Lilly and Company (NYSE:LLY) Shares Gap Up to $737.20

Eli Lilly and Company (NYSE:LLY) gapped up prior to trading on Tuesday . The stock had previously closed at $737.20, but opened at $775.00. Eli Lilly and Company shares last traded at $792.56, with a volume of 2,871,495 shares traded.

Analysts Set New Price Targets

LLY has been the subject of several research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $815.00 price objective on shares of Eli Lilly and Company in a report on Monday, April 15th. Morgan Stanley upped their price objective on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. JPMorgan Chase & Co. upped their price objective on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. BMO Capital Markets upped their price objective on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group upped their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $728.05.

Eli Lilly and Company Stock Performance

The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94. The business’s fifty day simple moving average is $760.89 and its 200-day simple moving average is $668.00. The firm has a market capitalization of $731.43 billion, a PE ratio of 134.72, a price-to-earnings-growth ratio of 1.60 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same period last year, the firm posted $2.09 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 28.1% compared to the same quarter last year. As a group, equities research analysts expect that Eli Lilly and Company will post 12.51 EPS for the current year.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total value of $50,920,804.11. Following the completion of the transaction, the insider now directly owns 99,333,810 shares of the company’s stock, valued at $64,375,262,246.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by insiders.

Institutional Trading of Eli Lilly and Company

Institutional investors and hedge funds have recently made changes to their positions in the business. Lipe & Dalton bought a new stake in shares of Eli Lilly and Company during the fourth quarter worth $26,000. Thompson Investment Management Inc. purchased a new position in Eli Lilly and Company in the third quarter valued at about $27,000. Tidemark LLC purchased a new position in Eli Lilly and Company in the fourth quarter valued at about $29,000. Core Wealth Advisors Inc. grew its stake in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares during the last quarter. Finally, Legacy Financial Group LLC purchased a new stake in shares of Eli Lilly and Company during the third quarter worth about $35,000. 82.53% of the stock is currently owned by 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.