Eli Lilly and Company (NYSE:LLY) Shares Down 1.1% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY)’s share price fell 1.1% on Monday . The company traded as low as $866.00 and last traded at $874.66. Approximately 1,070,693 shares were traded during trading, a decline of 69% from the average session volume of 3,435,724 shares. The stock had previously closed at $884.54.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LLY. Wells Fargo & Company upped their target price on shares of 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. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and cut their price target for the company from $1,150.00 to $700.00 in a research report on Monday. Guggenheim cut their target price on shares of Eli Lilly and Company from $973.00 to $928.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a report on Friday, January 17th. Finally, Truist Financial lifted their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $1,000.32.

Eli Lilly and Company Stock Performance

The company’s 50-day simple moving average is $827.69 and its 200 day simple moving average is $817.26. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The stock has a market cap of $825.26 billion, a P/E ratio of 74.30, a PEG ratio of 1.40 and a beta of 0.51.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s 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 in the company, valued at $4,778,521.60. This represents a 14.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. WestEnd Advisors LLC lifted its position in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock worth $26,000 after acquiring an additional 21 shares during the last quarter. Highline Wealth Partners LLC lifted its stake in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares in the last quarter. Citizens National Bank Trust Department lifted its position in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock valued at $35,000 after purchasing an additional 27 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $43,000. Finally, FPC Investment Advisory Inc. grew its position in shares of Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares during the last quarter. 82.53% of the stock is currently 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.