Eli Lilly and Company (NYSE:LLY) Shares Down 2%

Shares of Eli Lilly and Company (NYSE:LLY) fell 2% during trading on Friday . The stock traded as low as $729.50 and last traded at $731.15. 1,080,096 shares were traded during mid-day trading, a decline of 64% from the average session volume of 3,037,369 shares. The stock had previously closed at $745.95.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Barclays boosted their target price on Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Truist Financial reaffirmed a “buy” rating and set a $850.00 price target on shares of Eli Lilly and Company in a research report on Friday, March 22nd. Citigroup boosted their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $815.00 target price on shares of Eli Lilly and Company in a research report on Monday. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $728.05.

Eli Lilly and Company Price Performance

The business’s 50-day moving average price is $764.24 and its 200 day moving average price is $658.28. The company has a market capitalization of $692.17 billion, a P/E ratio of 125.67, a price-to-earnings-growth ratio of 1.64 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) last announced its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.19. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The business had revenue of $9.35 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same period in the prior year, the company earned $2.09 EPS. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. Analysts anticipate that Eli Lilly and Company will post 12.52 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors have recently made changes to their positions in the business. Lipe & Dalton bought a new stake in Eli Lilly and Company in the 4th quarter worth $26,000. Core Wealth Advisors Inc. boosted its holdings 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 purchasing an additional 32 shares during the period. Thompson Investment Management Inc. bought a new stake in shares of Eli Lilly and Company in the third quarter worth about $27,000. Tidemark LLC purchased a new position in Eli Lilly and Company during the 4th quarter valued at about $29,000. Finally, Retirement Group LLC raised its position in Eli Lilly and Company by 159.1% during the 2nd quarter. Retirement Group LLC now owns 57 shares of the company’s stock valued at $27,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

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.