Eli Lilly and Company (NYSE:LLY) Stock Price Down 4.6% on Analyst Downgrade

Eli Lilly and Company (NYSE:LLY - Get Free Report) fell 4.6% during mid-day trading on Thursday after Guggenheim lowered their price target on the stock from $973.00 to $928.00. Guggenheim currently has a buy rating on the stock. Eli Lilly and Company traded as low as $718.81 and last traded at $718.89. 663,002 shares changed hands during trading, a decline of 80% from the average session volume of 3,354,701 shares. The stock had previously closed at $753.71.

LLY has been the topic of several other reports. Wells Fargo & Company raised their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their target price for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Citigroup dropped their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research report on Friday, January 17th. Finally, Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,012.00.

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Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On Eli Lilly and Company

A number of large investors have recently made changes to their positions in the company. 25 LLC lifted its stake in Eli Lilly and Company by 6.9% in the first quarter. 25 LLC now owns 326 shares of the company's stock worth $269,000 after purchasing an additional 21 shares during the last quarter. CGC Financial Services LLC raised its holdings in shares of Eli Lilly and Company by 2,550.0% in the first quarter. CGC Financial Services LLC now owns 106 shares of the company's stock worth $87,000 after buying an additional 102 shares during the period. Abacus Planning Group Inc. lifted its stake in shares of Eli Lilly and Company by 3.3% during the 1st quarter. Abacus Planning Group Inc. now owns 2,488 shares of the company's stock worth $2,055,000 after acquiring an additional 79 shares during the last quarter. Capital Investment Advisors LLC boosted its holdings in Eli Lilly and Company by 4.1% during the 1st quarter. Capital Investment Advisors LLC now owns 27,596 shares of the company's stock valued at $22,792,000 after acquiring an additional 1,076 shares during the period. Finally, Hickory Point Bank & Trust bought a new position in Eli Lilly and Company in the 1st quarter valued at $211,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

The firm has a market cap of $707.56 billion, a PE ratio of 63.73, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. The business has a 50 day simple moving average of $837.05 and a two-hundred day simple moving average of $822.87. 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 - Get Free Report) last announced its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. As a group, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal 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.