Eli Lilly and Company (NYSE:LLY) Shares Down 0.1%

Eli Lilly and Company (NYSE:LLY)’s share price dropped 0.1% during trading on Thursday . The stock traded as low as $745.69 and last traded at $750.04. Approximately 421,050 shares changed hands during trading, a decline of 86% from the average daily volume of 3,049,915 shares. The stock had previously closed at $750.77.

Analyst Ratings Changes

Several research firms have commented on LLY. The Goldman Sachs Group upped their price objective on 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. Bank of America raised 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. Truist Financial reaffirmed a “buy” rating and issued a $850.00 price objective on shares of Eli Lilly and Company in a report on Friday, March 22nd. 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. Finally, Morgan Stanley raised their target price on Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $728.05.

Eli Lilly and Company Stock Performance

The firm has a fifty day moving average of $763.96 and a 200 day moving average of $659.59. The stock has a market cap of $690.11 billion, a price-to-earnings ratio of 125.23, a PEG ratio of 1.63 and a beta of 0.34. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, topping the consensus estimate 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 business had revenue of $9.35 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same quarter in the previous year, the firm earned $2.09 EPS. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Eli Lilly and Company will post 12.52 EPS for the current year.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the firm’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 completion of the sale, the insider now owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eli Lilly and Company

A number of hedge funds have recently modified their holdings of the business. Fairfield Bush & CO. purchased a new stake in shares of Eli Lilly and Company in the 1st quarter valued at approximately $107,000. Roundview Capital LLC lifted its stake in Eli Lilly and Company by 2.6% during the first quarter. Roundview Capital LLC now owns 2,056 shares of the company’s stock worth $589,000 after purchasing an additional 53 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Eli Lilly and Company during the first quarter worth $210,000. NewEdge Advisors LLC grew its stake in shares of Eli Lilly and Company by 9.9% in the first quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock valued at $15,193,000 after buying an additional 4,774 shares in the last quarter. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at $561,000. 82.53% of the stock is currently 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.