Eli Lilly and Company (NYSE:LLY) Trading Down 0.9% – Should You Sell?

Eli Lilly and Company (NYSE:LLY)’s stock price was down 0.9% during trading on Tuesday . The stock traded as low as $818.44 and last traded at $822.54. Approximately 948,101 shares changed hands during trading, a decline of 70% from the average daily volume of 3,117,131 shares. The stock had previously closed at $829.76.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial increased 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 report on Monday, February 3rd. Bank of America reaffirmed a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Wells Fargo & Company boosted their price objective 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. Finally, Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Price Performance

The stock has a fifty day moving average of $827.73 and a two-hundred day moving average of $846.36. 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 capitalization of $781.25 billion, a price-to-earnings ratio of 70.36, a PEG ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last announced its 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 net margin of 23.51% and a return on equity of 85.24%. As a group, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its board has authorized a stock repurchase program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. CWA Asset Management Group LLC boosted its holdings in Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after acquiring an additional 724 shares during the last quarter. Centerpoint Advisory Group bought a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $514,000. M&T Bank Corp grew its position in shares of Eli Lilly and Company by 0.7% during the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after buying an additional 1,867 shares during the period. Kentucky Trust Co bought a new stake in shares of Eli Lilly and Company during the fourth quarter worth approximately $834,000. Finally, Cooper Financial Group lifted its holdings in Eli Lilly and Company by 35.5% in the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after buying an additional 695 shares during the period. 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.