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

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on LLY shares. The Goldman Sachs Group increased their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Morgan Stanley boosted their price target on shares of 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. JPMorgan Chase & Co. lifted their target price on Eli Lilly and Company from $775.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Bank of America lifted their target price on Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $728.05.

Eli Lilly and Company Price Performance

The company’s 50-day moving average price is $762.68 and its two-hundred day moving average price is $655.54. The company has a market cap of $708.64 billion, a P/E ratio of 128.34, a P/E/G ratio of 1.65 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. The firm 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%. Eli Lilly and Company’s revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.09 EPS. As a group, sell-side analysts expect that Eli Lilly and Company will post 12.46 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the sale, the insider now owns 99,333,810 shares in the company, valued at $64,375,262,246.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LLY. Lipe & Dalton bought a new stake in Eli Lilly and Company in the fourth quarter worth approximately $26,000. Core Wealth Advisors Inc. boosted its holdings in shares of Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares during the period. Thompson Investment Management Inc. bought a new position in Eli Lilly and Company in the 3rd quarter worth $27,000. Tidemark LLC bought a new stake in Eli Lilly and Company during the fourth quarter valued at about $29,000. Finally, Retirement Group LLC grew its position in shares of Eli Lilly and Company by 159.1% in the second quarter. Retirement Group LLC now owns 57 shares of the company’s stock valued at $27,000 after purchasing an additional 35 shares during the last quarter. 82.53% of the stock is 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.