Eli Lilly and Company (NYSE:LLY) Shares Down 0.2% – What’s Next?

Shares of Eli Lilly and Company (NYSE:LLY) fell 0.2% during trading on Tuesday . The company traded as low as $860.02 and last traded at $862.89. 581,646 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 3,149,249 shares. The stock had previously closed at $864.90.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Truist Financial raised their target price 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. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a report on Thursday, March 6th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a report on Thursday, January 16th. Finally, Bank of America reiterated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Trading Down 1.8 %

The company has a fifty day simple moving average of $837.36 and a 200-day simple moving average of $837.97. 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 $805.07 billion, a price-to-earnings ratio of 72.59, a P/E/G ratio of 1.40 and a beta of 0.34.

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 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%. On average, research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a share buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Eli Lilly and Company by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock worth $57,320,226,000 after purchasing an additional 475,530 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Eli Lilly and Company by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock valued at $13,389,651,000 after buying an additional 291,875 shares during the last quarter. Wellington Management Group LLP raised its stake 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 acquiring an additional 2,012,129 shares during the last quarter. Norges Bank acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $8,407,908,000. Finally, Capital Research Global Investors grew its stake in shares of Eli Lilly and Company by 16.1% during the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company’s stock valued at $8,304,811,000 after purchasing an additional 1,493,673 shares during the last quarter. Institutional investors and hedge funds 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.