Eli Lilly and Company (NYSE:LLY) Shares Down 0.6% – Time to Sell?

Eli Lilly and Company (NYSE:LLY)’s share price dropped 0.6% during mid-day trading on Thursday . The stock traded as low as $816.68 and last traded at $821.45. Approximately 414,570 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 3,143,143 shares. The stock had previously closed at $826.76.

Analysts Set New Price Targets

Several research firms recently issued reports on LLY. Truist Financial increased their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research note on Thursday, January 16th. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a report on Thursday, March 6th. Finally, Wells Fargo & Company increased their target price on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Trading Down 0.9 %

The firm’s fifty day simple moving average is $841.16 and its 200-day simple moving average is $837.54. The stock has a market cap of $777.02 billion, a P/E ratio of 69.98, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has authorized a stock buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LLY. Norges Bank purchased a new stake in Eli Lilly and Company in the 4th quarter worth approximately $8,407,908,000. Proficio Capital Partners LLC raised its position in shares of Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after buying an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after buying an additional 2,012,129 shares in the last quarter. Capital International Investors boosted its stake in Eli Lilly and Company by 23.2% during the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock valued at $6,740,272,000 after buying an additional 1,645,222 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Eli Lilly and Company during the fourth quarter worth about $1,240,653,000. 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.