Eli Lilly and Company (NYSE:LLY) Stock Price Down 2.1% – Here’s What Happened

by · The Cerbat Gem

Eli Lilly and Company (NYSE:LLY – Get Free Report) shares traded down 2.1% during trading on Tuesday . The company traded as low as $814.01 and last traded at $814.70. 805,882 shares changed hands during trading, a decline of 74% from the average session volume of 3,103,661 shares. The stock had previously closed at $832.44.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. BMO Capital Markets lifted their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Citigroup lifted their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Finally, Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,008.41.

Get Our Latest Report on LLY

Eli Lilly and Company Trading Down 3.2 %

The firm has a market capitalization of $746.12 billion, a price-to-earnings ratio of 86.30, a PEG ratio of 3.10 and a beta of 0.43. The company has a fifty day moving average price of $888.32 and a two-hundred day moving average price of $870.29. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, research analysts forecast that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.66%. Eli Lilly and Company’s payout ratio is 56.22%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LLY. International Assets Investment Management LLC boosted its position in shares of Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after buying an additional 12,448,888 shares during the period. Swedbank AB purchased a new position in shares of Eli Lilly and Company during the first quarter worth $932,797,000. Vanguard Group Inc. boosted its position in shares of Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after buying an additional 1,133,810 shares during the period. Pathway Financial Advisers LLC boosted its position in shares of Eli Lilly and Company by 92,759.9% during the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock worth $905,774,000 after buying an additional 1,021,287 shares during the period. Finally, Wulff Hansen & CO. boosted its position in shares of Eli Lilly and Company by 90,438.0% during the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock worth $848,403,000 after buying an additional 936,033 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Company Profile

(Get Free Report)

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.

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