Eli Lilly and Company (NYSE:LLY) Shares Down 2% – Should You Sell?

Eli Lilly and Company (NYSE:LLY)’s stock price dropped 2% during trading on Monday . The stock traded as low as $789.40 and last traded at $805.69. Approximately 785,972 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 3,299,758 shares. The stock had previously closed at $822.51.

Analysts Set New Price Targets

A number of analysts have recently weighed in on LLY shares. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a report on Thursday, January 16th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Truist Financial lifted their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a research report on Thursday, March 6th. Finally, Citigroup decreased 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 research report on Tuesday, January 28th. Three research 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 an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Stock Performance

The firm has a market capitalization of $762.04 billion, a P/E ratio of 68.63, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The company has a 50-day moving average of $847.53 and a 200-day moving average of $834.15. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) 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, equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has approved a stock repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related 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 transaction of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Institutional investors have recently made changes to their positions in the stock. Hobart Private Capital LLC raised its stake in Eli Lilly and Company by 37.9% during the 1st quarter. Hobart Private Capital LLC now owns 1,737 shares of the company’s stock worth $1,435,000 after buying an additional 477 shares during the period. Trust Co of the South grew its stake in Eli Lilly and Company by 44.4% in the first quarter. Trust Co of the South now owns 895 shares of the company’s stock valued at $739,000 after acquiring an additional 275 shares during the period. Modus Advisors LLC increased its holdings in shares of Eli Lilly and Company by 34.9% during the first quarter. Modus Advisors LLC now owns 1,079 shares of the company’s stock valued at $891,000 after acquiring an additional 279 shares in the last quarter. Neville Rodie & Shaw Inc. raised its position in shares of Eli Lilly and Company by 0.4% during the first quarter. Neville Rodie & Shaw Inc. now owns 15,091 shares of the company’s stock worth $12,464,000 after purchasing an additional 60 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Eli Lilly and Company by 9.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,618 shares of the company’s stock worth $2,988,000 after purchasing an additional 309 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

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.