Eli Lilly and Company (NYSE:LLY) Shares Down 0.5%

Eli Lilly and Company (NYSE:LLY)’s stock price was down 0.5% during mid-day trading on Wednesday . The stock traded as low as $743.00 and last traded at $746.74. Approximately 2,569,799 shares traded hands during trading, an increase of 16% from the average daily volume of 2,215,511 shares. The stock had previously closed at $750.77.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LLY shares. The Goldman Sachs Group lifted their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. 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. Morgan Stanley boosted their price objective on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Finally, Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $728.05.

Eli Lilly and Company Stock Performance

The company has a 50-day moving average of $763.51 and a 200 day moving average of $657.01. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $709.52 billion, a PE ratio of 128.75, a PEG ratio of 1.64 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.19. The firm had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $8.95 billion. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.09 EPS. Equities research analysts predict that Eli Lilly and Company will post 12.52 EPS for the current year.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 78,573 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the completion of the transaction, the insider now owns 99,333,810 shares of the company’s stock, valued at approximately $64,375,262,246.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Lipe & Dalton bought a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $26,000. Thompson Investment Management Inc. bought a new position in Eli Lilly and Company during the 3rd quarter valued at approximately $27,000. Retirement Group LLC increased 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 buying an additional 35 shares in the last quarter. Tidemark LLC bought a new position in Eli Lilly and Company during the 4th quarter valued at approximately $29,000. Finally, Core Wealth Advisors Inc. increased its position in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

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.