Eli Lilly And Co (NYSE:LLY) Shares Gap Down to $122.89

Eli Lilly And Co (NYSE:LLY) shares gapped down prior to trading on Wednesday . The stock had previously closed at $125.66, but opened at $122.89. Eli Lilly And Co shares last traded at $121.94, with a volume of 6,466,925 shares changing hands.

A number of research analysts recently weighed in on the company. Goldman Sachs Group raised Eli Lilly And Co from a “buy” rating to a “conviction-buy” rating and set a $168.00 price objective on the stock in a report on Wednesday, March 11th. Barclays started coverage on shares of Eli Lilly And Co in a report on Thursday, February 27th. They issued an “overweight” rating for the company. JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly And Co from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Morgan Stanley upgraded shares of Eli Lilly And Co from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $116.00 to $150.00 in a research report on Wednesday, December 18th. They noted that the move was a valuation call. Finally, Mizuho assumed coverage on Eli Lilly And Co in a research note on Wednesday, February 5th. They set a “neutral” rating and a $148.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Eli Lilly And Co currently has an average rating of “Buy” and an average target price of $142.18.

The company has a market cap of $116.70 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.52 and a beta of 0.34. The company has a debt-to-equity ratio of 5.30, a current ratio of 1.16 and a quick ratio of 0.89. The business’s 50-day simple moving average is $136.58 and its 200-day simple moving average is $124.91.

Eli Lilly And Co (NYSE:LLY) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.21. The business had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $5.92 billion. Eli Lilly And Co had a net margin of 37.27% and a return on equity of 192.27%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $1.33 EPS. As a group, sell-side analysts forecast that Eli Lilly And Co will post 6.77 EPS for the current year.

In other Eli Lilly And Co news, major shareholder Lilly Endowment Inc sold 220,000 shares of the stock in a transaction that occurred on Thursday, January 9th. The shares were sold at an average price of $135.79, for a total value of $29,873,800.00. Following the completion of the sale, the insider now owns 114,136,224 shares of the company’s stock, valued at $15,498,557,856.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Myles O’neill sold 25,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $140.15, for a total transaction of $3,503,750.00. Following the completion of the sale, the senior vice president now directly owns 44,773 shares of the company’s stock, valued at approximately $6,274,935.95. The disclosure for this sale can be found here. Insiders sold 682,645 shares of company stock worth $95,516,671 over the last three months. Corporate insiders own 0.11% of the company’s stock.

Several hedge funds have recently made changes to their positions in LLY. Norges Bank bought a new position in shares of Eli Lilly And Co during the fourth quarter worth about $1,171,509,000. Jennison Associates LLC lifted its stake in shares of Eli Lilly And Co by 233.0% in the 4th quarter. Jennison Associates LLC now owns 4,512,478 shares of the company’s stock worth $593,075,000 after acquiring an additional 3,157,292 shares during the period. Capital International Investors lifted its stake in shares of Eli Lilly And Co by 3.6% in the 4th quarter. Capital International Investors now owns 26,055,933 shares of the company’s stock worth $3,424,531,000 after acquiring an additional 910,672 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Eli Lilly And Co during the third quarter valued at approximately $101,403,000. Finally, FMR LLC increased its stake in shares of Eli Lilly And Co by 6.7% during the fourth quarter. FMR LLC now owns 14,235,227 shares of the company’s stock valued at $1,870,935,000 after acquiring an additional 888,413 shares during the period. Institutional investors and hedge funds own 77.83% of the company’s stock.

Eli Lilly And Co Company Profile (NYSE:LLY)

Eli Lilly and Company discovers, develops, manufactures, and markets pharmaceutical products worldwide. The company operates in two segments, Human Pharmaceutical Products and Animal Health Products. It offers endocrinology products for the treatment of diabetes; osteoporosis in postmenopausal women and men; and human growth hormone deficiency and pediatric growth conditions.

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