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

Eli Lilly and Company (NYSE:LLY)’s share price fell 3.2% during trading on Friday . The stock traded as low as $731.31 and last traded at $731.95. 1,623,504 shares changed hands during mid-day 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 analyst reports. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. BMO Capital Markets increased their price target on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research report on Wednesday. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. DZ Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 target price for the company. in a research report on Wednesday, February 21st. Finally, The Goldman Sachs Group boosted their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and seventeen 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 a consensus price target of $757.95.

Eli Lilly and Company Price Performance

The stock has a market cap of $698.52 billion, a price-to-earnings ratio of 108.24, a P/E/G ratio of 1.50 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 stock’s 50 day simple moving average is $761.06 and its two-hundred day simple moving average is $671.38.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Tuesday, April 30th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same period in the previous year, the business earned $1.62 EPS. The firm’s revenue was up 26.0% on a year-over-year basis. On average, analysts forecast that Eli Lilly and Company will post 13.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sage Mountain Advisors LLC increased its holdings in shares of Eli Lilly and Company by 5.2% during the third quarter. Sage Mountain Advisors LLC now owns 4,169 shares of the company’s stock worth $2,239,000 after buying an additional 206 shares in the last quarter. Sawyer & Company Inc boosted its stake in Eli Lilly and Company by 0.4% in the third quarter. Sawyer & Company Inc now owns 6,710 shares of the company’s stock worth $3,604,000 after purchasing an additional 25 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in shares of Eli Lilly and Company by 13.1% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 68,290 shares of the company’s stock worth $36,681,000 after purchasing an additional 7,894 shares during the last quarter. Vantage Investment Partners LLC increased its stake in shares of Eli Lilly and Company by 2.2% in the third quarter. Vantage Investment Partners LLC now owns 31,114 shares of the company’s stock valued at $16,712,000 after buying an additional 656 shares in the last quarter. Finally, Lathrop Investment Management Corp raised its holdings in shares of Eli Lilly and Company by 1.2% in the third quarter. Lathrop Investment Management Corp now owns 1,476 shares of the company’s stock valued at $793,000 after buying an additional 18 shares during the last quarter. Institutional investors 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.