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

Eli Lilly and Company (NYSE:LLY)’s stock price traded down 0.7% during mid-day trading on Tuesday . The company traded as low as $712.42 and last traded at $721.81. 1,930,249 shares were traded 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 analysts recently issued reports on the company. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Citigroup boosted their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. 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 for the company in a research report on Thursday, October 31st. Finally, Barclays reduced 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. Four 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 currently has a consensus rating of “Moderate Buy” and an average target price of $1,007.94.

Eli Lilly and Company Price Performance

The company has a market capitalization of $715.23 billion, a PE ratio of 81.45, a PEG ratio of 2.76 and a beta of 0.43. The firm has a fifty day moving average of $872.25 and a two-hundred day moving average of $869.98. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. Research analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 56.22%.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’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 transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of Eli Lilly and Company in the 1st quarter worth approximately $2,138,000. Chesley Taft & Associates LLC grew its stake in shares of Eli Lilly and Company by 5.4% in the 2nd quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock worth $20,419,000 after buying an additional 1,163 shares during the last quarter. OMNI 360 Wealth Inc. purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter worth approximately $239,000. Long Run Wealth Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter worth approximately $209,000. Finally, Essex Financial Services Inc. grew its stake in shares of Eli Lilly and Company by 5.8% in the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock worth $25,517,000 after buying an additional 1,556 shares during 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.