Eli Lilly and Company (NYSE:LLY) Trading Down 0.6% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY)’s share price was down 0.6% on Monday . The stock traded as low as $910.11 and last traded at $912.07. Approximately 312,110 shares were traded during trading, a decline of 89% from the average daily volume of 2,971,196 shares. The stock had previously closed at $917.97.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LLY shares. Morgan Stanley restated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. JPMorgan Chase & Co. raised their target price 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. Barclays raised their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Berenberg Bank lifted their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,002.24.

Eli Lilly and Company Stock Down 1.0 %

The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The stock’s fifty day simple moving average is $921.21 and its 200-day simple moving average is $858.60. The stock has a market cap of $863.60 billion, a P/E ratio of 133.58, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. On average, research analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Institutional Investors Weigh In On Eli Lilly and Company

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings 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 valued at $56,592,709,000 after buying an additional 1,133,810 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Eli Lilly and Company by 6.0% during the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after buying an additional 453,939 shares during the last quarter. Capital International Investors raised its holdings in Eli Lilly and Company by 5.1% during the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after purchasing an additional 335,560 shares in the last quarter. GQG Partners LLC raised its holdings in Eli Lilly and Company by 20.2% during the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after purchasing an additional 648,094 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Eli Lilly and Company by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock worth $3,242,296,000 after purchasing an additional 171,595 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Company Profile

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.