Eli Lilly and Company (NYSE:LLY) Trading Down 1.6%

Eli Lilly and Company (NYSE:LLY) shares dropped 1.6% on Wednesday . The stock traded as low as $731.20 and last traded at $733.85. Approximately 672,630 shares changed hands during trading, a decline of 78% from the average daily volume of 3,019,784 shares. The stock had previously closed at $745.69.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group upped their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Citigroup upped their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. upped their target price 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. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $728.05.

Eli Lilly and Company Price Performance

The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The stock’s fifty day moving average price is $763.89 and its 200-day moving average price is $664.05. The firm has a market cap of $695.71 billion, a price-to-earnings ratio of 126.78, a P/E/G ratio of 1.59 and a beta of 0.34.

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. The business had revenue of $9.35 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business posted $2.09 earnings per share. As a group, equities research analysts forecast that Eli Lilly and Company will post 12.52 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 54,032 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $645.07, for a total value of $34,854,422.24. Following the transaction, the insider now owns 99,488,598 shares in the company, valued at $64,177,109,911.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

Several hedge funds have recently bought and sold shares of LLY. Versant Capital Management Inc boosted its position in shares of Eli Lilly and Company by 1.8% during the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after purchasing an additional 13 shares in the last quarter. Twin Peaks Wealth Advisors LLC increased its holdings in shares of Eli Lilly and Company by 2.0% during the first quarter. Twin Peaks Wealth Advisors LLC now owns 718 shares of the company’s stock worth $559,000 after purchasing an additional 14 shares during the period. Moseley Investment Management Inc. boosted 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 acquiring an additional 14 shares in the last quarter. CGN Advisors LLC boosted its position in Eli Lilly and Company by 1.4% in the first quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock valued at $779,000 after buying an additional 14 shares in the last quarter. Finally, Buckhead Capital Management LLC raised its stake in shares of Eli Lilly and Company by 0.7% during the fourth quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock valued at $1,226,000 after acquiring an additional 15 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

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.