Eli Lilly and Company (NYSE:LLY)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $239.64 and last traded at $239.03, with a volume of 27925 shares. The stock had previously closed at $237.29.
A number of research firms have weighed in on LLY. Barclays lifted their price objective on Eli Lilly and from $227.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, July 6th. Zacks Investment Research cut shares of Eli Lilly and from a “hold” rating to a “sell” rating and set a $244.00 price objective on the stock. in a research note on Monday. Cantor Fitzgerald lifted their target price on shares of Eli Lilly and from $245.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, June 24th. Cowen increased their price target on shares of Eli Lilly and from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, June 24th. Finally, Mizuho reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Eli Lilly and in a report on Wednesday, July 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Eli Lilly and has a consensus rating of “Buy” and a consensus price target of $232.13.
The stock has a market cap of $228.25 billion, a price-to-earnings ratio of 35.47, a PEG ratio of 1.88 and a beta of 0.26. The company’s 50-day moving average is $219.01. The company has a current ratio of 1.42, a quick ratio of 1.10 and a debt-to-equity ratio of 2.28.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 10th. Stockholders of record on Friday, August 13th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Thursday, August 12th. Eli Lilly and’s dividend payout ratio is currently 42.88%.
Eli Lilly and announced that its board has approved a share buyback plan on Monday, May 3rd that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In other news, Director Jackson P. Tai acquired 1,366 shares of the company’s stock in a transaction that occurred on Friday, April 30th. The stock was purchased at an average price of $182.84 per share, with a total value of $249,759.44. Following the completion of the acquisition, the director now owns 60,649 shares of the company’s stock, valued at approximately $11,089,063.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Donald A. Zakrowski sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, April 28th. The stock was sold at an average price of $181.38, for a total transaction of $544,140.00. Following the sale, the chief accounting officer now owns 5,987 shares of the company’s stock, valued at $1,085,922.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 917,387 shares of company stock worth $211,370,333. Insiders own 0.13% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in LLY. Wealthcare Capital Management LLC purchased a new position in Eli Lilly and in the first quarter worth approximately $30,000. Retirement Group LLC acquired a new position in shares of Eli Lilly and in the 4th quarter valued at $33,000. Cranbrook Wealth Management LLC grew its holdings in shares of Eli Lilly and by 162.3% during the 1st quarter. Cranbrook Wealth Management LLC now owns 181 shares of the company’s stock worth $34,000 after purchasing an additional 112 shares during the period. Safeguard Investment Advisory Group LLC acquired a new stake in shares of Eli Lilly and during the 4th quarter worth about $42,000. Finally, Altshuler Shaham Ltd purchased a new stake in Eli Lilly and in the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 81.57% of the company’s stock.
About Eli Lilly and (NYSE:LLY)
Eli Lilly & Co engages in the discovery, development, manufacture and sale of pharmaceutical products. The firm’s products consist of Diabetes, Oncology, Immunology, Neuroscience, and Other therapies. The Diabetes products include Baqsimi, Basaglar, Humalog, Humulin, Jardiance, Lyumjev, Trajenta, and Trulicity.
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