Eli Lilly and Company (NYSE:LLY) Stock Price Down 2.4% – Time to Sell?

Eli Lilly and Company (NYSE:LLY) fell 2.4% on Thursday . The stock traded as low as $800.09 and last traded at $802.42. 801,437 shares traded hands during trading, a decline of 74% from the average session volume of 3,115,980 shares. The stock had previously closed at $821.86.

Wall Street Analysts Forecast Growth

Several research firms have commented on LLY. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a report on Friday, January 17th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Truist Financial boosted their price objective 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. Finally, Bank of America restated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Stock Performance

The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $829.78 and its two-hundred day simple moving average is $845.29. The company has a market capitalization of $760.68 billion, a P/E ratio of 68.44, a P/E/G ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate 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, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has authorized a share buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company in the 3rd quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company during the third quarter valued at about $30,000. Highline Wealth Partners LLC increased its position in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares in the last quarter. FPC Investment Advisory Inc. raised its holdings in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares during the last quarter. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $48,000. 82.53% of the stock is owned by 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.