Eli Lilly and Company (NYSE:LLY) Shares Down 4.2% on Analyst Downgrade

Eli Lilly and Company (NYSE:LLY)’s share price fell 4.2% during mid-day trading on Wednesday after Morgan Stanley lowered their price target on the stock from $1,146.00 to $1,124.00. Morgan Stanley currently has an overweight rating on the stock. Eli Lilly and Company traded as low as $689.00 and last traded at $695.88. 1,795,788 shares were traded during trading, a decline of 46% from the average session volume of 3,343,069 shares. The stock had previously closed at $726.24.

Several other brokerages have also commented on LLY. Bank of America reaffirmed a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a report on Thursday, January 16th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Finally, Wells Fargo & Company increased their target price on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,017.67.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Institutional investors and hedge funds have recently made changes to their positions in the business. Highline Wealth Partners LLC increased its holdings in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the period. FPC Investment Advisory Inc. increased its stake in Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares during the period. Mascagni Wealth Management Inc. bought a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $43,000. Prudent Man Investment Management Inc. bought a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $48,000. Finally, Compass Financial Services Inc bought a new position in shares of Eli Lilly and Company in the fourth quarter worth approximately $50,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 4.0 %

The firm’s 50 day moving average is $843.43 and its 200 day moving average is $827.93. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company has a market capitalization of $660.74 billion, a PE ratio of 59.43, a P/E/G ratio of 1.40 and a beta of 0.51.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) 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 analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

About Eli Lilly and Company

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.