Eli Lilly and Company (NYSE:LLY) Trading Down 2.4% After Insider Selling

Eli Lilly and Company (NYSE:LLY) dropped 2.4% on Thursday after an insider sold shares in the company. The stock traded as low as $800.09 and last traded at $802.42. Approximately 801,437 shares traded hands during trading, a decline of 74% from the average daily volume of 3,115,980 shares. The stock had previously closed at $821.86.

Specifically, 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 sale, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

LLY has been the topic of several recent research reports. 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 report on Wednesday, March 5th. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a report on Thursday, March 6th. Bank of America reiterated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Trading Up 1.5 %

The business has a 50-day simple moving average of $830.81 and a 200-day simple moving average of $844.01. The company has a market cap of $771.38 billion, a PE ratio of 69.47, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last issued 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 return on equity of 85.24% and a net margin of 23.51%. On average, analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a stock repurchase program 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LLY. Tableaux LLC purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $335,000. PKO Investment Management Joint Stock Co acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $5,790,000. Northstar Financial Companies Inc. acquired a new position in shares of Eli Lilly and Company during the 4th quarter valued at $835,000. Centaurus Financial Inc. lifted its holdings in Eli Lilly and Company by 26.0% in the 4th quarter. Centaurus Financial Inc. now owns 14,438 shares of the company’s stock worth $11,146,000 after buying an additional 2,975 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC acquired a new position in Eli Lilly and Company in the 4th quarter worth $2,379,000. 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.