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

Eli Lilly and Company (NYSE:LLY) shares dropped 0.1% on Thursday . The company traded as low as $745.69 and last traded at $750.04. Approximately 421,050 shares traded 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.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of research reports. Wells Fargo & Company boosted their target price on shares of 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. DZ Bank downgraded 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. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Barclays boosted their price objective on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $815.00 price objective on shares of Eli Lilly and Company in a research report on Monday. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $728.05.

Eli Lilly and Company Price Performance

The firm’s fifty day simple moving average is $764.03 and its 200 day simple moving average is $657.67. The firm has a market cap of $708.84 billion, a P/E ratio of 129.32, a P/E/G ratio of 1.63 and a beta of 0.34. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.30 by $0.19. The business had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The business’s revenue was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. As a group, analysts forecast that Eli Lilly and Company will post 12.52 earnings per share for the current year.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 54,032 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $645.07, for a total transaction of $34,854,422.24. Following 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lipe & Dalton purchased a new stake in Eli Lilly and Company in the 4th quarter worth about $26,000. Core Wealth Advisors Inc. increased its position in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares during the period. Thompson Investment Management Inc. purchased a new position in shares of Eli Lilly and Company during the third quarter worth approximately $27,000. Tidemark LLC purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $29,000. Finally, Retirement Group LLC increased its position in shares of Eli Lilly and Company by 159.1% during the second quarter. Retirement Group LLC now owns 57 shares of the company’s stock worth $27,000 after acquiring an additional 35 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.