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

Shares of Eli Lilly and Company (NYSE:LLY) traded down 0.5% during trading on Tuesday . The company traded as low as $744.52 and last traded at $746.85. 571,816 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 3,058,198 shares. The stock had previously closed at $750.77.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. BMO Capital Markets raised their target price on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Barclays raised 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 research note on Wednesday, February 7th. Finally, Citigroup raised their target price on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company 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’s stock. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $728.05.

Eli Lilly and Company Stock Performance

The company has a market capitalization of $713.45 billion, a price-to-earnings ratio of 129.46, a price-to-earnings-growth ratio of 1.63 and a beta of 0.34. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94. The company’s fifty day simple moving average is $764.03 and its two-hundred day simple moving average is $657.67.

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

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of Eli Lilly and Company stock in a transaction dated Wednesday, January 31st. The shares were 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 of the company’s stock, valued at approximately $64,375,262,246.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Simon Quick Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 10.5% in the 4th quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after buying an additional 278 shares during the period. Clear Harbor Asset Management LLC bought a new stake in Eli Lilly and Company in the 4th quarter valued at about $363,000. WASHINGTON TRUST Co lifted its position in Eli Lilly and Company by 16.5% in the 4th quarter. WASHINGTON TRUST Co now owns 18,892 shares of the company’s stock valued at $11,013,000 after purchasing an additional 2,671 shares during the last quarter. Liontrust Investment Partners LLP bought a new stake in Eli Lilly and Company in the 3rd quarter valued at about $8,326,000. Finally, Redhawk Wealth Advisors Inc. lifted its position in Eli Lilly and Company by 0.9% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 6,986 shares of the company’s stock valued at $3,752,000 after purchasing an additional 65 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

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.