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

Eli Lilly and Company (NYSE:LLY) dropped 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 changed 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Berenberg Bank boosted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Truist Financial reissued a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Guggenheim raised their target price on shares of 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. Finally, Wells Fargo & Company raised their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company Stock Performance

The stock has a 50 day moving average price of $895.70 and a two-hundred day moving average price of $841.91. The company has a market cap of $838.48 billion, a P/E ratio of 130.60, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42. 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 posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. On average, research analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 8,848 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $915.31, for a total value of $8,098,662.88. Following the completion of the transaction, the insider now directly owns 97,299,772 shares in the company, valued at approximately $89,059,454,309.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 423,559 shares of company stock worth $393,136,808 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LLY. Swedbank AB acquired a new stake in shares of Eli Lilly and Company during the first quarter worth $932,797,000. Vanguard Group Inc. lifted its stake in shares of Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. Wulff Hansen & CO. boosted its position in shares of Eli Lilly and Company by 90,438.0% during the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after purchasing an additional 936,033 shares in the last quarter. GQG Partners LLC boosted its position in shares of Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after purchasing an additional 648,094 shares in the last quarter. Finally, Comerica Bank grew its stake in Eli Lilly and Company by 71.6% during the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock worth $1,369,825,000 after purchasing an additional 631,312 shares during the period. 82.53% of the stock is currently 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.