Eli Lilly and Company (NYSE:LLY) Shares Down 1.3% – What’s Next?

Eli Lilly and Company (NYSE:LLY)’s share price fell 1.3% during trading on Tuesday . The company traded as low as $812.62 and last traded at $813.91. 575,828 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 3,115,477 shares. The stock had previously closed at $824.76.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LLY. Wells Fargo & Company lifted their target price on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a report on Thursday, January 16th. Truist Financial upped their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Trading Down 0.6 %

The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The company’s 50-day moving average is $832.05 and its 200 day moving average is $841.68. The company has a market cap of $776.93 billion, a price-to-earnings ratio of 69.94, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. Research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has authorized a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently bought and sold shares of the company. Thoma Capital Management LLC purchased a new position in Eli Lilly and Company in the 4th quarter valued at approximately $819,000. NorthCrest Asset Manangement LLC raised its holdings in shares of Eli Lilly and Company by 164.8% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 18,126 shares of the company’s stock valued at $13,993,000 after purchasing an additional 11,280 shares in the last quarter. Members Wealth LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at $633,000. Tableaux LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at $335,000. Finally, PKO Investment Management Joint Stock Co acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at $5,790,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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.