Eli Lilly and Company (NYSE:LLY) Trading Down 1.2%

Eli Lilly and Company (NYSE:LLY - Get Free Report) shares traded down 1.2% during mid-day trading on Thursday . The stock traded as low as $764.60 and last traded at $767.68. 730,834 shares were traded during mid-day trading, a decline of 76% from the average session volume of 3,038,991 shares. The stock had previously closed at $776.75.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Truist Financial upped their target price on Eli Lilly and Company from $850.00 to $892.00 and gave the stock a "buy" rating in a research note on Wednesday. Morgan Stanley boosted their price objective on Eli Lilly and Company from $805.00 to $950.00 and gave the company an "overweight" rating in a research report on Friday, February 16th. Erste Group Bank upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Wednesday, April 3rd. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $700.00 to $825.00 and gave the company an "overweight" rating in a research report on Tuesday, February 6th. Finally, The Goldman Sachs Group boosted their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the company a "neutral" rating in a research report on Thursday, April 11th. Three research 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 business has a fifty day simple moving average of $761.75 and a 200-day simple moving average of $670.56. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. The firm has a market cap of $718.24 billion, a P/E ratio of 111.33, a P/E/G ratio of 1.58 and a beta of 0.37.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 59.28% and a net margin of 17.08%. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter in the prior year, the company earned $1.62 earnings per share. The firm's quarterly revenue was up 26.0% compared to the same quarter last year. On average, sell-side analysts predict that Eli Lilly and Company will post 13.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Eli Lilly and Company

Institutional investors have recently modified their holdings of the stock. Lipe & Dalton purchased a new stake in shares of Eli Lilly and Company during the fourth quarter valued at $26,000. Core Wealth Advisors Inc. lifted its holdings in Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company's stock valued at $29,000 after acquiring an additional 32 shares during the period. Thompson Investment Management Inc. bought a new position in Eli Lilly and Company in the third quarter valued at about $27,000. Activest Wealth Management bought a new position in Eli Lilly and Company in the first quarter valued at about $39,000. Finally, Tidemark LLC bought a new position in Eli Lilly and Company in the fourth quarter valued at about $29,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.