Eli Lilly and Company (NYSE:LLY – Get Free Report) fell 1.9% on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $825.24 and last traded at $830.42. 1,710,472 shares were traded during mid-day trading, a decline of 43% from the average session volume of 3,022,442 shares. The stock had previously closed at $846.83.
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 67.52% and a net margin of 18.86%. The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year.
Eli Lilly and Company Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $1.30 dividend. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.62%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.
Analyst Upgrades and Downgrades
Read Our Latest Stock Report on Eli Lilly and Company
Institutional Investors Weigh In On Eli Lilly and Company
Several institutional investors and hedge funds have recently modified their holdings of the company. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company during the 2nd quarter worth about $32,000. LGT Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company in the 2nd quarter valued at $36,000. Morton Brown Family Wealth LLC grew its holdings in shares of Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares during the last quarter. Cedar Mountain Advisors LLC increased its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the period. Finally, Unique Wealth Strategies LLC purchased a new stake in Eli Lilly and Company in the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.
Eli Lilly and Company Stock Down 0.6 %
The firm’s 50 day moving average price is $916.20 and its two-hundred day moving average price is $865.10. The firm has a market cap of $800.40 billion, a price-to-earnings ratio of 122.30, a P/E/G ratio of 3.24 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87.
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.
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