Eli Lilly and Company (NYSE:LLY) Stock Price Down 4.6% After Analyst Downgrade

Eli Lilly and Company (NYSE:LLY)’s stock price fell 4.6% during mid-day trading on Thursday after Morgan Stanley lowered their price target on the stock from $1,146.00 to $1,124.00. Morgan Stanley currently has an overweight rating on the stock. Eli Lilly and Company traded as low as $718.81 and last traded at $718.89. 663,002 shares changed hands during trading, a decline of 80% from the average session volume of 3,354,701 shares. The stock had previously closed at $753.71.

Several other analysts have also weighed in on LLY. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Citigroup decreased their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research note on Friday, January 17th. Finally, Wells Fargo & Company upped their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,017.67.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds and other institutional investors have recently made changes to their positions in the company. Highline Wealth Partners LLC boosted its stake in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the period. Kovitz Investment Group Partners LLC raised its position in shares of Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after buying an additional 24,879 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in Eli Lilly and Company during the fourth quarter worth about $43,000. FPC Investment Advisory Inc. boosted its position in shares of Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after acquiring an additional 43 shares in the last quarter. Finally, Prudent Man Investment Management Inc. bought a new position in shares of Eli Lilly and Company in the 4th quarter valued at $48,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The stock has a market cap of $674.21 billion, a price-to-earnings ratio of 60.61, a P/E/G ratio of 1.40 and a beta of 0.51. The company has a 50 day simple moving average of $840.79 and a 200 day simple moving average of $826.23.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. As a group, equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

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.