Eli Lilly and Company (NYSE: LLY) stock jumped 0.60% on Wednesday to $425.77 against a previous-day closing price of $423.21. With 3.13 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.33 million shares. During the session, the Drug Manufacturers – General company that operates in wider Healthcare sector, reached to the highest price of $428.96 whereas the lowest price it dropped to was $420.26. The 52-week range on LLY shows that it touched its highest point at $454.95 and its lowest point at $283.11 during that stretch. It currently has a 1-year price target of $421.17. With its current market cap of 400.07 billion, LLY has annualized dividend of $4.52 while the current yield stands at 1.06%. Beta for the stock currently stands at 0.35.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LLY was down-trending over the past week, with a drop of -2.67%, but this was up by 10.64% over a month. Three-month performance surged to 30.00% while six-month performance rose 17.89%. The stock gained 40.70% in the past year, while it has gained 16.38% so far this year. A look at the trailing 12-month EPS for LLY yields 6.30 with Next year EPS estimates of 12.26. For the next quarter, that number is 2.00. This implies an EPS growth rate of 12.80% for this year and 40.54% for next year. EPS is expected to grow by 24.38% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 10.10%.
Float and Shares Shorts:
At present, 949.27 million LLY shares are outstanding with a float of 947.44 million shares on hand for trading. On May 14, 2023, short shares totaled 6.1 million, which was 0.64% higher than short shares on Apr 13, 2023. In addition to Mr. David A. Ricks as the firm’s Chairman, CEO & Pres, Ms. Anat Ashkenazi serves as its Exec. VP & CFO.
Through their ownership of 84.00% of LLY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 40.25% of LLY, in contrast to 32.83% held by mutual funds. Shares owned by individuals account for 11.49%. As the largest shareholder in LLY with 7.00% of the stake, The Vanguard Group, Inc. holds 66,561,861 shares worth 66,561,861. A second-largest stockholder of LLY, PNC Bank, NA, holds 51,905,325 shares, controlling over 5.46% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in LLY, holding 40,752,507 shares or 4.29% stake. With a 2.80% stake in LLY, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 26,579,709 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 1.95% of LLY stock, is the second-largest Mutual Fund holder. It holds 18,510,855 shares valued at 7.33 billion. Vanguard PRIMECAP Fund holds 1.56% of the stake in LLY, owning 14,847,538 shares worth 5.88 billion.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, LLY reported revenue of $6.49B and operating income of $1.65B. The EBITDA in the recently reported quarter was $2.08B and diluted EPS was $1.05.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LLY since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With LLY analysts setting a high price target of $507.00 and a low target of $300.00, the average target price over the next 12 months is $430.73. Based on these targets, LLY could surge 19.08% to reach the target high and fall by -29.54% to reach the target low. Reaching the average price target will result in a growth of 1.16% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded LLY stock several times over the past three months with 17 Buys and 51 Sells. In these transactions, 5,625 shares were bought while 1,263,950 shares were sold. The number of buy transactions has increased to 111 while that of sell transactions has risen to 170 over the past year. The total number of shares bought during that period was 257,331 while 3,663,239 shares were sold.