Eli Lilly and Company (NYSE:LLY) Stock Price Down 0.7% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY)’s stock price fell 0.7% on Tuesday . The stock traded as low as $712.42 and last traded at $721.81. 1,930,249 shares changed hands during trading, a decline of 39% from the average session volume of 3,159,605 shares. The stock had previously closed at $727.20.

Analysts Set New Price Targets

A number of research firms have issued reports on LLY. Wolfe Research started coverage on Eli Lilly and Company in a report on Friday. They issued an “outperform” rating and a $1,000.00 target price on the stock. Guggenheim raised their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Berenberg Bank upped their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target for the company. Finally, BMO Capital Markets boosted their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Eli Lilly and Company Stock Down 0.3 %

The stock has a market capitalization of $688.11 billion, a price-to-earnings ratio of 78.03, a price-to-earnings-growth ratio of 2.82 and a beta of 0.43. The firm has a 50 day simple moving average of $879.04 and a 200-day simple moving average of $870.84. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the business earned $0.10 EPS. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, sell-side analysts forecast that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $1.30 dividend. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.72%. Eli Lilly and Company’s payout ratio is 56.22%.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. M&T Bank Corp increased its position in Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after purchasing an additional 1,867 shares during the period. Second Line Capital LLC bought a new stake in shares of Eli Lilly and Company during the third quarter worth approximately $201,000. Soltis Investment Advisors LLC boosted its stake in Eli Lilly and Company by 10.7% in the third quarter. Soltis Investment Advisors LLC now owns 1,256 shares of the company’s stock valued at $1,113,000 after acquiring an additional 121 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in Eli Lilly and Company by 3.1% during the 3rd quarter. Rehmann Capital Advisory Group now owns 4,357 shares of the company’s stock worth $3,712,000 after acquiring an additional 131 shares during the period. Finally, TD Private Client Wealth LLC raised its position in shares of Eli Lilly and Company by 5.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 12,543 shares of the company’s stock valued at $11,112,000 after acquiring an additional 669 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

About Eli Lilly and Company

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.