Eli Lilly and Company (NYSE:LLY) Trading Down 2% – Here’s Why

Eli Lilly and Company (NYSE:LLY) was down 2% during mid-day trading on Thursday . The stock traded as low as $800.00 and last traded at $801.70. Approximately 753,226 shares traded hands during trading, a decline of 77% from the average daily volume of 3,302,284 shares. The stock had previously closed at $818.22.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of research reports. Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research note on Friday, January 17th. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Stock Down 6.5 %

The company’s 50 day simple moving average is $848.36 and its 200-day simple moving average is $832.44. 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 firm has a market cap of $699.33 billion, a P/E ratio of 62.99, a PEG ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last issued 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 forecast 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 of Directors has authorized a stock buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction that occurred 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 approximately $4,778,521.60. The trade was a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

Institutional Trading of Eli Lilly and Company

Several institutional investors and hedge funds have recently modified their holdings of LLY. Highline Wealth Partners LLC raised its holdings in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares during the period. FPC Investment Advisory Inc. grew its holdings in Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after buying an additional 43 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in Eli Lilly and Company during the 4th quarter valued at approximately $43,000. Prudent Man Investment Management Inc. bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $48,000. Finally, Compass Financial Services Inc purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth $50,000. 82.53% of the stock is currently owned by 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.