The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Eli Lilly and Company shares valued at $193,482 were sold by Zakrowski Donald A on Feb 27. At $322.47 per share, Zakrowski Donald A sold 600 shares. The insider’s holdings dropped to 6,578 shares worth approximately $2.07 million following the completion of this transaction.
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Also, White Anne E. sold 2,500 shares, netting a total of over 866,175 in proceeds. Following the sale of shares at $346.47 each, the insider now holds 57,926 shares.
Before that, White Anne E. had sold 2,500 shares from its account. In a trade valued at $856,900, the EVP & Pres, Lilly Neuroscience traded Eli Lilly and Company shares for $342.76 each. Upon closing the transaction, the insider’s holdings decreased to 2,500 shares, worth approximately $18.98 million.
As published in a research note from Societe Generale on February 15, 2023, Eli Lilly and Company [LLY] has been rated down from a Hold to a Sell. Analysts at Credit Suisse started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid November. As of September 22, 2022, UBS has increased its “Neutral” rating to a “Buy” for LLY. Earlier on May 23, 2022, SVB Leerink initiated its rating. Their recommendation was “an Outperform” for LLY stock.
Analyzing LLY Stock Performance
On Wednesday, Eli Lilly and Company [NYSE: LLY] rose 0.95% to $314.17. The stock’s lowest price that day was $309.20, but it reached a high of $316.9055 in the same session. During the last five days, there has been a drop of approximately -4.53%. Over the course of the year, Eli Lilly and Company shares have dropped approximately -14.12%. Shares of the company reached a 52-week high of $384.44 on 01/24/23 and a 52-week low of $302.14 on 01/24/23. A 50-day SMA is recorded $346.95, while a 200-day SMA reached $331.96. Nevertheless, trading volume fell to 3.57 million shares from 3.97 million shares the previous day.
Support And Resistance Levels for Eli Lilly and Company (LLY)
According to the 24-hour chart, there is a support level at 309.94, which, if violated, would cause prices to drop to 305.72. In the upper region, resistance lies at 317.65. The next price resistance is at 321.13. RSI (Relative Strength Index) is 31.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -16.15, which suggests the price will decrease in the coming days. Percent R is at 88.86%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Eli Lilly and Company subject to short interest?
Stocks of Eli Lilly and Company saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.69 million shares to 4.93 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 5.62 million shares. A decline of -14.0% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.94 of the overall float, the days-to-cover ratio (short ratio) decline to 1.94.
Which companies own the most shares of Eli Lilly and Company (LLY)?
According to The Vanguard Group, Inc. filings, the company currently owns 70,058,275 shares, which is about 7.37% of the total LLY shares outstanding. The investor’s shares have appreciated by 785,758 from its previous 13-F filing of 69272517.0 shares. With the completion of the sale transaction, PNC Bank, NA’s stake is now worth $17,902,137,866. BlackRock Fund Advisors acquire a 2.14% interest valued at $14.13 billion while SSgA Funds Management, Inc. purchased a 132,615 stake. A total of 472,673 shares of Eli Lilly and Company were bought by Fidelity Management & Research Co during the quarter, and -836,435 were sold by Capital Research & Management Co. In its current portfolio, PRIMECAP Management Co. holds 25,892,025 shares valued at $8.91 billion.
In terms of Eli Lilly and Company share price expectations, FactSet research, analysts set an average price target of $385.63 in the next 12 months, up nearly 28.53% from the previous closing price of $311.22. Analysts anticipate Eli Lilly and Company stock to reach $444.00 by 2023, with the lowest price target being $270.00. In spite of this, 22 analysts ranked Eli Lilly and Company stock as an Overweight at the end of 2023. On April 06, 2022, Morgan Stanley assigned a price target of “an Overweight” to the stock and resumed coverage with a $364.