Eli Lilly and Company (NYSE:LLY) Stock Price Down 0.6% – Should You Sell?

Shares of Eli Lilly and Company (NYSE:LLY) were down 0.6% on Wednesday . The stock traded as low as $900.75 and last traded at $903.58. Approximately 376,179 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 2,956,792 shares. The stock had previously closed at $909.15.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LLY. Wells Fargo & Company increased their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Berenberg Bank increased their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Truist Financial boosted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,025.00 price target on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.41.

Eli Lilly and Company Trading Up 0.2 %

The stock has a market capitalization of $848.45 billion, a PE ratio of 110.17, a P/E/G ratio of 3.24 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The stock has a 50 day moving average price of $920.32 and a 200-day moving average price of $860.96.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Sell-side analysts expect that Eli Lilly and Company will post 14.05 earnings per share for the current year.

Hedge Funds Weigh In On Eli Lilly and Company

Large investors have recently made changes to their positions in the business. M&G Plc purchased a new stake in Eli Lilly and Company in the 1st quarter worth $8,896,000. Virtu Financial LLC purchased a new position in shares of Eli Lilly and Company in the first quarter valued at $2,138,000. China Universal Asset Management Co. Ltd. raised its stake in Eli Lilly and Company by 19.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after purchasing an additional 1,620 shares in the last quarter. Mutual Advisors LLC grew its stake in shares of Eli Lilly and Company by 404.8% in the 1st quarter. Mutual Advisors LLC now owns 62,598 shares of the company’s stock worth $48,699,000 after buying an additional 50,197 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of Eli Lilly and Company by 0.6% in the 1st quarter. Private Advisor Group LLC now owns 76,282 shares of the company’s stock worth $59,345,000 after buying an additional 430 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

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.