Eli Lilly and Company (NYSE:LLY) Trading Down 0.6% - Here's What Happened

Eli Lilly and Company (NYSE:LLY - Get Free Report)'s share price dropped 0.6% during mid-day trading on Thursday . The stock traded as low as $816.68 and last traded at $821.45. Approximately 414,570 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 3,143,143 shares. The stock had previously closed at $826.76.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LLY shares. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research report on Friday, January 17th. Truist Financial upped their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Citigroup cut their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Bank of America reissued a "buy" rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,009.72.

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Eli Lilly and Company Trading Down 0.2 %

The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The business has a 50 day moving average price of $844.31 and a 200-day moving average price of $836.37. The firm has a market capitalization of $777.78 billion, a PE ratio of 70.05, a P/E/G ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value 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. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company's stock.

Institutional Trading of Eli Lilly and Company

A number of institutional investors have recently bought and sold shares of the company. FWG Holdings LLC boosted its position in shares of Eli Lilly and Company by 0.6% in the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock worth $1,640,000 after buying an additional 12 shares in the last quarter. Morling Financial Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock valued at $205,000 after purchasing an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC grew its position in shares of Eli Lilly and Company by 2.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock valued at $468,000 after purchasing an additional 12 shares during the last quarter. Applied Finance Capital Management LLC increased its stake in shares of Eli Lilly and Company by 1.4% during the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock worth $660,000 after purchasing an additional 12 shares in the last quarter. Finally, Garner Asset Management Corp raised its position in shares of Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after purchasing an additional 12 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

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.