Eli Lilly and Company (NYSE:LLY) Shares Down 0.7%

Eli Lilly and Company (NYSE:LLY) shares traded down 0.7% during mid-day trading on Thursday . The company traded as low as $883.01 and last traded at $885.09. 634,415 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 3,029,120 shares. The stock had previously closed at $891.07.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LLY shares. Bank of America upped their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,025.00 target price on shares of Eli Lilly and Company in a research note on Thursday. Jefferies Financial Group raised their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, BMO Capital Markets lifted their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Stock Down 0.7 %

The stock has a market capitalization of $840.67 billion, a price-to-earnings ratio of 130.28, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42. The firm has a 50 day simple moving average of $897.24 and a 200-day simple moving average of $846.22. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The business had revenue of $11.30 billion during 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, sell-side analysts forecast that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 355,962 shares of company stock worth $331,267,535. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

A number of hedge funds have recently added to or reduced their stakes in the stock. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company in the second quarter valued at approximately $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at $36,000. Morton Brown Family Wealth LLC raised its position in shares of Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the last quarter. Core Wealth Advisors Inc. lifted its stake in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 32 shares during the period. Finally, Unique Wealth Strategies LLC bought a new position in Eli Lilly and Company in the second quarter valued at about $45,000. Institutional investors own 82.53% of the company’s stock.

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.