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

Eli Lilly and Company (NYSE:LLY)’s share price dropped 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

LLY has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Wells Fargo & Company raised their price objective on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. DZ Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective for the company. in a research report on Wednesday, February 21st. The Goldman Sachs Group raised 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 report on Thursday, April 11th. Finally, Bank of America lifted their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $728.05.

Eli Lilly and Company Stock Down 0.6 %

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 stock has a market cap of $708.77 billion, a price-to-earnings ratio of 128.61, a PEG ratio of 1.64 and a beta of 0.34. The business’s fifty day moving average is $764.24 and its two-hundred day moving average is $658.28.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results 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. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The company had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. Equities analysts forecast that Eli Lilly and Company will post 12.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 54,032 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $645.07, for a total value of $34,854,422.24. Following the completion of the transaction, the insider now owns 99,488,598 shares in the company, valued at $64,177,109,911.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LLY. Versant Capital Management Inc lifted its position in shares of Eli Lilly and Company by 1.8% during the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after buying an additional 13 shares during the last quarter. Moseley Investment Management Inc. lifted its position in shares of Eli Lilly and Company by 0.4% during the 1st quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock worth $3,027,000 after buying an additional 14 shares during the last quarter. CGN Advisors LLC lifted its position in shares of Eli Lilly and Company by 1.4% during the 1st quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock worth $779,000 after buying an additional 14 shares during the last quarter. Buckhead Capital Management LLC raised its position in Eli Lilly and Company by 0.7% in the 4th quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock valued at $1,226,000 after purchasing an additional 15 shares during the last quarter. Finally, Levin Capital Strategies L.P. raised its position in Eli Lilly and Company by 3.8% in the 4th quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock valued at $242,000 after purchasing an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Company Profile

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.