Eli Lilly and Company (NYSE:LLY) Trading Down 1.3%

Eli Lilly and Company (NYSE:LLY)’s share price traded down 1.3% on Thursday . The company traded as low as $718.30 and last traded at $722.73. 958,152 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 3,012,311 shares. The stock had previously closed at $732.20.

Analysts Set New Price Targets

Several equities research analysts have weighed in on LLY shares. Truist Financial reissued a “buy” rating and issued a $850.00 price target on shares of Eli Lilly and Company in a report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price target on Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. 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. BMO Capital Markets increased their price target on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Morgan Stanley increased their price objective on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $728.05.

Eli Lilly and Company Stock Down 1.0 %

The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94. The firm has a fifty day moving average price of $763.40 and a 200 day moving average price of $664.52. The firm has a market capitalization of $688.74 billion, a price-to-earnings ratio of 124.61, a PEG ratio of 1.63 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 earnings per share (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 analysts’ expectations of $8.95 billion. During the same quarter last year, the firm earned $2.09 earnings per share. The business’s revenue was up 28.1% on a year-over-year basis. As a group, sell-side analysts expect that Eli Lilly and Company will post 12.52 EPS for the current fiscal year.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 99,333,810 shares of the company’s stock, valued at $64,375,262,246.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

Several large investors have recently modified their holdings of LLY. Meridian Wealth Management LLC boosted its holdings in shares of Eli Lilly and Company by 168.5% in the 3rd quarter. Meridian Wealth Management LLC now owns 10,770 shares of the company’s stock valued at $5,785,000 after buying an additional 6,759 shares during the period. B.O.S.S. Retirement Advisors LLC grew its stake in Eli Lilly and Company by 2.2% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 4,334 shares of the company’s stock worth $2,328,000 after buying an additional 93 shares during the last quarter. Nikulski Financial Inc. increased its position in Eli Lilly and Company by 3.8% in the third quarter. Nikulski Financial Inc. now owns 856 shares of the company’s stock worth $460,000 after buying an additional 31 shares during the period. Planning Alternatives Ltd. ADV bought a new position in Eli Lilly and Company in the 3rd quarter worth approximately $223,000. Finally, Private Trust Co. NA raised its stake in Eli Lilly and Company by 0.6% during the 3rd quarter. Private Trust Co. NA now owns 10,335 shares of the company’s stock valued at $5,551,000 after acquiring an additional 64 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

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.