Eli Lilly and Company (NYSE:LLY) Shares Down 4.6% – What’s Next?

Shares of Eli Lilly and Company (NYSE:LLY) dropped 4.6% on Friday . The company traded as low as $738.87 and last traded at $753.18. Approximately 1,481,944 shares were traded during trading, a decline of 55% from the average daily volume of 3,304,105 shares. The stock had previously closed at $789.09.

Analyst Ratings Changes

LLY has been the subject of a number of recent research reports. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research note on Friday, January 17th. Citigroup decreased their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a research report on Thursday, March 6th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Finally, Truist Financial lifted 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 research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Price Performance

The stock has a fifty day moving average of $848.36 and a two-hundred day moving average of $831.93. The stock has a market cap of $699.33 billion, a price-to-earnings ratio of 62.99, 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 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, equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the company’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 value of $818,240.00. Following the sale, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Institutional investors have recently bought and sold shares of the company. Highline Wealth Partners LLC boosted its position in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC raised its position in Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after acquiring an additional 24,879 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $43,000. FPC Investment Advisory Inc. grew its position in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $48,000. 82.53% of the stock is currently 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.