Eli Lilly and Company (NYSE:LLY) Shares Down 2.5%

Shares of Eli Lilly and Company (NYSE:LLY) were down 2.5% during mid-day trading on Friday . The stock traded as low as $880.50 and last traded at $886.80. Approximately 1,354,282 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 3,035,021 shares. The stock had previously closed at $909.32.

Analysts Set New Price Targets

A number of analysts have weighed in on LLY shares. Berenberg Bank increased their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Guggenheim increased their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Jefferies Financial Group boosted their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Wells Fargo & Company raised their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Price Performance

The company has a market cap of $834.26 billion, a price-to-earnings ratio of 129.28, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42. The company has a fifty day simple moving average of $896.10 and a two-hundred day simple moving average of $843.52. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, equities research analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 8,848 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $915.31, for a total transaction of $8,098,662.88. Following the completion of the transaction, the insider now owns 97,299,772 shares of the company’s stock, valued at $89,059,454,309.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 423,559 shares of company stock worth $393,136,808 in the last ninety days. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

Hedge funds have recently modified their holdings of the company. Aveo Capital Partners LLC boosted its holdings in shares of Eli Lilly and Company by 8.2% during the fourth quarter. Aveo Capital Partners LLC now owns 2,020 shares of the company’s stock worth $1,178,000 after purchasing an additional 153 shares during the last quarter. Gryphon Financial Partners LLC boosted its stake in Eli Lilly and Company by 19.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,324 shares of the company’s stock worth $1,355,000 after buying an additional 377 shares during the last quarter. J. W. Coons Advisors LLC grew its holdings in Eli Lilly and Company by 4.0% in the 4th quarter. J. W. Coons Advisors LLC now owns 2,324 shares of the company’s stock valued at $1,355,000 after buying an additional 90 shares during the period. ORBA Wealth Advisors L.L.C. acquired a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $216,000. Finally, Partners Capital Investment Group LLP lifted its holdings in shares of Eli Lilly and Company by 154.8% during the 4th quarter. Partners Capital Investment Group LLP now owns 4,056 shares of the company’s stock worth $2,364,000 after acquiring an additional 2,464 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

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.