Eli Lilly and Company (NYSE:LLY) Trading Down 4.2% Following Analyst Downgrade

Eli Lilly and Company (NYSE:LLY)’s stock price fell 4.2% during mid-day trading on Wednesday after Morgan Stanley lowered their price target on the stock from $1,146.00 to $1,124.00. Morgan Stanley currently has an overweight rating on the stock. Eli Lilly and Company traded as low as $689.00 and last traded at $695.88. 1,795,788 shares traded hands during trading, a decline of 46% from the average session volume of 3,343,069 shares. The stock had previously closed at $726.24.

LLY has been the topic of a number of other research reports. Truist Financial raised their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company boosted their target price 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. Bank of America reaffirmed a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research report on Friday, January 17th. Finally, Citigroup reduced their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,017.67.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s 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 transaction, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Eli Lilly and Company

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

Eli Lilly and Company Stock Performance

The stock has a market cap of $660.74 billion, a price-to-earnings ratio of 59.43, a P/E/G ratio of 1.40 and a beta of 0.51. The company’s fifty day simple moving average is $843.43 and its two-hundred day simple moving average is $827.93. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last posted 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%. On average, analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current 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.