Eli Lilly and Company (NYSE:LLY) Stock Price Down 1.3% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY) fell 1.3% during mid-day trading on Tuesday . The stock traded as low as $812.62 and last traded at $813.91. 575,828 shares traded hands during trading, a decline of 82% from the average session volume of 3,115,477 shares. The stock had previously closed at $824.76.

Analyst Ratings Changes

Several research firms recently issued reports on LLY. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a report on Thursday, January 16th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research note on Friday, January 17th. Truist Financial upped their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company upped their target price on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Bank of America restated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Stock Up 1.8 %

The company has a market cap of $793.94 billion, a P/E ratio of 71.51, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The firm’s 50 day moving average price is $834.04 and its 200-day moving average price is $840.69. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has authorized a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Eli Lilly and Company

Several hedge funds have recently bought and sold shares of the stock. FWG Holdings LLC raised its holdings in Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock worth $1,640,000 after buying an additional 12 shares during the period. Morling Financial Advisors LLC raised its holdings in shares of Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after purchasing an additional 12 shares during the last quarter. Prestige Wealth Management Group LLC raised its holdings in shares of Eli Lilly and Company by 2.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock valued at $468,000 after purchasing an additional 12 shares during the last quarter. Applied Finance Capital Management LLC raised its holdings in shares of Eli Lilly and Company by 1.4% in the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company’s stock valued at $660,000 after purchasing an additional 12 shares during the last quarter. Finally, Garner Asset Management Corp raised its holdings in shares of Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after purchasing an additional 12 shares during the last quarter. 82.53% of the stock is currently 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.