Eli Lilly and Company (NYSE:LLY) Trading Down 3.2%

Eli Lilly and Company (NYSE:LLY)’s share price fell 3.2% during trading on Friday . The stock traded as low as $731.31 and last traded at $731.95. 1,623,504 shares traded hands during trading, a decline of 47% from the average session volume of 3,050,417 shares. The stock had previously closed at $755.91.

Analysts Set New Price Targets

LLY has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a report on Wednesday. Barclays lifted their target price on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research note on Wednesday. Truist Financial lifted their price objective on Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Citigroup increased their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $757.95.

Eli Lilly and Company Stock Performance

The company has a market capitalization of $698.52 billion, a P/E ratio of 108.24, a price-to-earnings-growth ratio of 1.57 and a beta of 0.37. The business has a 50 day moving average of $761.75 and a 200 day moving average of $670.56. The company has a quick ratio of 0.73, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Tuesday, April 30th. The company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.62 EPS. On average, sell-side analysts predict that Eli Lilly and Company will post 13.49 earnings per share for the current year.

Institutional Trading of Eli Lilly and Company

Several hedge funds have recently made changes to their positions in LLY. Simon Quick Advisors LLC raised its stake in shares of Eli Lilly and Company by 10.5% in the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after acquiring an additional 278 shares during the period. Clear Harbor Asset Management LLC bought a new stake in Eli Lilly and Company during the 4th quarter valued at about $363,000. Terril Brothers Inc. boosted its position in Eli Lilly and Company by 113.2% in the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after buying an additional 429 shares during the period. Hartline Investment Corp increased its position in shares of Eli Lilly and Company by 1.1% during the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock worth $12,786,000 after acquiring an additional 248 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in Eli Lilly and Company by 5.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 354,565 shares of the company’s stock valued at $206,683,000 after acquiring an additional 17,461 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other 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.