Eli Lilly and Company (NYSE:LLY) Shares Down 3.2%

Eli Lilly and Company (NYSE:LLY)’s stock price traded down 3.2% on Friday . The stock traded as low as $731.31 and last traded at $731.95. 1,623,504 shares changed hands during trading, a decline of 47% from the average session volume of 3,050,417 shares. The stock had previously closed at $755.91.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets upped their price target on Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research report on Wednesday. Truist Financial upped their price objective on Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America upped their price objective on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price (up previously from $815.00) on shares of Eli Lilly and Company in a research note on Tuesday. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $757.95.

Eli Lilly and Company Stock Performance

The company has a market cap of $698.52 billion, a P/E ratio of 108.24, a P/E/G ratio of 1.57 and a beta of 0.37. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 0.73. The business has a 50-day moving average of $761.75 and a two-hundred day moving average of $670.56.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. Eli Lilly and Company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 EPS. On average, sell-side analysts predict that Eli Lilly and Company will post 13.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors have recently made changes to their positions in LLY. Lipe & Dalton purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $26,000. Thompson Investment Management Inc. acquired a new position in shares of Eli Lilly and Company in the third quarter valued at approximately $27,000. Tidemark LLC purchased a new position in Eli Lilly and Company during the fourth quarter worth about $29,000. Core Wealth Advisors Inc. boosted its holdings in shares of Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares during the last quarter. Finally, Legacy Financial Group LLC purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter worth about $35,000. 82.53% of the stock is currently 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.