Eli Lilly and Company (NYSE:LLY) Shares Down 5.9% – Here’s Why

by · The Cerbat Gem

Eli Lilly and Company (NYSE:LLY – Get Free Report) shares fell 5.9% on Tuesday . The stock traded as low as $729.00 and last traded at $750.23. 4,708,968 shares changed hands during trading, an increase of 42% from the average session volume of 3,305,097 shares. The stock had previously closed at $797.48.

Wall Street Analyst Weigh In

LLY has been the subject of a number of recent research reports. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Barclays dropped their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. Truist Financial boosted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Read Our Latest Report on LLY

Eli Lilly and Company Stock Down 7.5 %

The company’s 50 day moving average price is $785.91 and its two-hundred day moving average price is $858.62. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The stock has a market cap of $700.22 billion, a P/E ratio of 79.74, a P/E/G ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. As a group, research analysts expect that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.81%. Eli Lilly and Company’s payout ratio is presently 64.86%.

Eli Lilly and Company declared that its Board of Directors has approved a stock buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s 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 sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On Eli Lilly and Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in Eli Lilly and Company by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock valued at $15,089,563,000 after purchasing an additional 85,823 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eli Lilly and Company by 2.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock worth $5,417,970,000 after buying an additional 157,741 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Eli Lilly and Company by 3.5% during the third quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock worth $4,481,175,000 after buying an additional 169,391 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Eli Lilly and Company by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock worth $3,242,296,000 after acquiring an additional 171,595 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

About Eli Lilly and Company

(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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