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

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

Analyst Upgrades and Downgrades

LLY has been the topic of several analyst reports. Truist Financial reiterated a “buy” rating and set a $850.00 target price on shares of Eli Lilly and Company in a report on Friday, March 22nd. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Wells Fargo & Company raised their target price on 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. Morgan Stanley boosted their price target on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Finally, The Goldman Sachs Group increased their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $728.05.

Eli Lilly and Company Trading Down 2.3 %

The stock has a market capitalization of $692.17 billion, a P/E ratio of 125.67, a PEG ratio of 1.64 and a beta of 0.34. The firm’s 50-day simple moving average is $764.24 and its 200 day simple moving average is $658.28. 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 issued its quarterly 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 firm had revenue of $9.35 billion for the quarter, compared to analysts’ expectations of $8.95 billion. During the same quarter last year, the business posted $2.09 EPS. Eli Lilly and Company’s revenue was up 28.1% on a year-over-year basis. Equities research analysts anticipate that Eli Lilly and Company will post 12.52 EPS for the current fiscal year.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 54,032 shares of Eli Lilly and Company stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $645.07, for a total transaction of $34,854,422.24. Following the completion of the sale, the insider now directly owns 99,488,598 shares in the company, valued at approximately $64,177,109,911.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Valeo Financial Advisors LLC increased its holdings in shares of Eli Lilly and Company by 1.7% during the 1st quarter. Valeo Financial Advisors LLC now owns 105,646 shares of the company’s stock valued at $82,188,000 after acquiring an additional 1,765 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new position in Eli Lilly and Company during the first quarter valued at approximately $236,000. Iyo Bank Ltd. acquired a new position in Eli Lilly and Company during the first quarter valued at approximately $311,000. Sivia Capital Partners LLC raised its position in shares of Eli Lilly and Company by 5.0% in the first quarter. Sivia Capital Partners LLC now owns 1,868 shares of the company’s stock valued at $1,454,000 after purchasing an additional 89 shares during the period. Finally, Monument Capital Management lifted its stake in shares of Eli Lilly and Company by 1.3% in the first quarter. Monument Capital Management now owns 2,916 shares of the company’s stock worth $2,268,000 after buying an additional 38 shares during 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.