Eli Lilly and Company (NYSE:LLY) Stock Price Down 3.5% - Time to Sell?

Shares of Eli Lilly and Company (NYSE:LLY - Get Free Report) fell 3.5% on Monday . The stock traded as low as $677.09 and last traded at $712.44. 2,545,935 shares were traded during mid-day trading, a decline of 23% from the average session volume of 3,324,480 shares. The stock had previously closed at $738.21.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LLY shares. Citigroup decreased their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Truist Financial raised their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Morgan Stanley decreased their price target on shares of Eli Lilly and Company from $1,146.00 to $1,124.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $892.00 to $888.00 in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,017.67.

Eli Lilly and Company Stock Up 0.9 %

The company has a market cap of $689.39 billion, a PE ratio of 62.02, a P/E/G ratio of 1.40 and a beta of 0.51. The stock has a 50-day moving average of $838.96 and a 200-day moving average of $824.81. 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 earnings results 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 return on equity of 85.24% and a net margin of 23.51%. Sell-side analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares of the company's stock, valued at $4,778,521.60. This represents a 14.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC boosted its holdings in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock worth $35,000 after purchasing an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company's stock worth $41,000 after buying an additional 24,879 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in Eli Lilly and Company during the fourth quarter valued at approximately $43,000. FPC Investment Advisory Inc. grew its position in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock valued at $45,000 after acquiring an additional 43 shares during the last quarter. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $48,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Company Profile

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.