Eli Lilly and Company (NYSE:LLY) Stock Price Down 0.2% – Here’s Why

Eli Lilly and Company (NYSE:LLY)’s share price dropped 0.2% during trading on Tuesday . The stock traded as low as $860.02 and last traded at $862.89. Approximately 581,646 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 3,149,249 shares. The stock had previously closed at $864.90.

Wall Street Analyst Weigh In

LLY has been the topic of a number of recent analyst reports. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Citigroup lowered their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Finally, Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Stock Performance

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 $779.52 billion, a PE ratio of 70.21, a P/E/G ratio of 1.40 and a beta of 0.34. The business’s 50-day moving average price is $841.16 and its 200-day moving average price is $837.54.

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

Eli Lilly and Company declared that its board has initiated a stock repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $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 can be accessed through this link. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in Eli Lilly and Company by 5.3% during the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock valued at $1,070,698,000 after acquiring an additional 60,306 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of Eli Lilly and Company by 45.2% during the 3rd quarter. Penserra Capital Management LLC now owns 870 shares of the company’s stock valued at $770,000 after purchasing an additional 271 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in shares of Eli Lilly and Company by 24.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,869 shares of the company’s stock valued at $1,656,000 after purchasing an additional 370 shares during the period. Quantbot Technologies LP boosted its stake in shares of Eli Lilly and Company by 115.3% during the 3rd quarter. Quantbot Technologies LP now owns 3,757 shares of the company’s stock worth $3,328,000 after acquiring an additional 2,012 shares in the last quarter. Finally, Baldwin Investment Management LLC increased its stake in shares of Eli Lilly and Company by 2.4% during the third quarter. Baldwin Investment Management LLC now owns 8,354 shares of the company’s stock worth $7,401,000 after purchasing an additional 195 shares in the last quarter. 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.