Eli Lilly and Company (NYSE:LLY) Trading Down 1.5% - Time to Sell?

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares dropped 1.5% during mid-day trading on Wednesday . The stock traded as low as $730.55 and last traded at $745.64. Approximately 714,067 shares changed hands during trading, a decline of 81% from the average daily volume of 3,674,781 shares. The stock had previously closed at $757.18.

Analyst Ratings Changes

A number of brokerages recently issued reports on LLY. Guggenheim decreased their target price on shares of Eli Lilly and Company from $973.00 to $928.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research note on Friday, January 17th. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price target for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat, Eli Lilly and Company has an average rating of "Moderate Buy" and an average price target of $1,012.00.

Eli Lilly and Company Stock Performance

The company has a market capitalization of $798.08 billion, a price-to-earnings ratio of 71.88, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. The company's fifty day simple moving average is $829.09 and its two-hundred day simple moving average is $819.86. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

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 (EPS) for the quarter, missing the consensus estimate 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%. Equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Eli Lilly and Company

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 sale, the chief accounting officer now owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Several large investors have recently added to or reduced their stakes in LLY. Vanguard Group Inc. lifted its position in Eli Lilly and Company by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock valued at $57,320,226,000 after purchasing an additional 475,530 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Eli Lilly and Company by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock valued at $13,389,651,000 after purchasing an additional 291,875 shares during the period. GAMMA Investing LLC raised its holdings in shares of Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after buying an additional 14,852,076 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after buying an additional 2,012,129 shares during the period. Finally, Norges Bank bought a new position in Eli Lilly and Company in the 4th quarter worth approximately $8,407,908,000. 82.53% of the stock is 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.