Senior Executive at Eli Lilly (LLY) Sells Company Stock

Eli Lilly’s (LLY) chief accounting officer (CAO) has sold nearly $1 million worth of the pharmaceutical company’s stock.

A filing with the U.S. Securities and Exchange Commission (SEC) shows that Eli Lilly CAO Donald Zakrowski sold 1,000 shares of the company’s stock on March 13th. The shares were sold at an average price of $818.24, for total proceeds of $818,240.

Following the latest sale, Zakrowski owns 5,840 shares of the company’s stock, valued at approximately $4.31 million This represents a 14.62% decrease in the executive’s position. Company insiders at Eli Lilly, including senior managers such as Zakrowski, own 0.13% of the company’s outstanding shares.

Declining Share Price

The share sale by Zakrowski appears to have been well-timed, coming as it did before LLY stock began to slide lower in recent weeks. Since March 13, when the CAO made his sale, Eli Lilly’s share price has fallen 10%. Over the last 12 months, the stock has decreased 7%.

The decline comes amid promises by U.S. President Donald Trump to both impose tariffs on imports of prescription drugs and their ingredients, and to lower medication costs for American consumers. Eli Lilly has also struggled to ramp-up production of its best-selling weight loss drug to meet global demand.

Is LLY Stock a Buy?

The stock of Eli Lilly has a consensus Strong Buy recommendation among 19 Wall Street analysts. That rating is based on 17 Buy, one Hold, and one Sell recommendations issued in the last 12 months. The average LLY price target of $989.07 implies 33.89% upside from current levels.

Read more analyst ratings on LLY stock