Eli Lilly and Company (NYSE:LLY) Stock Price Down 1.7% – Here’s Why

Shares of Eli Lilly and Company (NYSE:LLY) dropped 1.7% on Monday . The company traded as low as $803.00 and last traded at $812.50. Approximately 769,569 shares changed hands during trading, a decline of 76% from the average daily volume of 3,197,878 shares. The stock had previously closed at $826.71.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Barclays dropped their target price 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. Deutsche Bank Aktiengesellschaft dropped their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Bank of America reduced their target price on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. 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, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Stock Performance

The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a market cap of $763.85 billion, a PE ratio of 87.84, a P/E/G ratio of 3.13 and a beta of 0.41. The business’s 50-day moving average price is $842.70 and its 200-day moving average price is $872.01.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly 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). The business 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 business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, equities research analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction 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 owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LLY. Lantz Financial LLC boosted its stake in shares of Eli Lilly and Company by 1.3% during the 2nd quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock worth $1,119,000 after acquiring an additional 16 shares in the last quarter. D.B. Root & Company LLC acquired a new position in shares of Eli Lilly and Company during the 2nd quarter worth approximately $332,000. Voisard Asset Management Group Inc. lifted its position in shares of Eli Lilly and Company by 4.9% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 666 shares of the company’s stock valued at $603,000 after buying an additional 31 shares in the last quarter. Farrow Financial Inc. grew its stake in Eli Lilly and Company by 0.7% in the 2nd quarter. Farrow Financial Inc. now owns 2,469 shares of the company’s stock valued at $2,235,000 after acquiring an additional 17 shares during the period. Finally, Brendel Financial Advisors LLC purchased a new stake in Eli Lilly and Company in the 2nd quarter worth $1,874,000. 82.53% of the stock is owned by institutional investors and hedge funds.

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.