Eli Lilly and Company (NYSE:LLY) Trading Down 0.9% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY)’s stock price traded down 0.9% during trading on Monday . The company traded as low as $740.01 and last traded at $741.50. 1,007,385 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 3,183,533 shares. The stock had previously closed at $748.01.

Analysts Set New Price Targets

Several brokerages have issued reports on LLY. BMO Capital Markets increased their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Berenberg Bank increased their price target 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 report on Wednesday, August 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Finally, Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and 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 stock has a fifty day moving average of $856.96 and a 200 day moving average of $869.83. The stock has a market cap of $748.40 billion, a price-to-earnings ratio of 85.23, a P/E/G ratio of 2.86 and a beta of 0.43. 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 quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate 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 net margin of 20.48% and a return on equity of 71.08%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. On average, analysts expect that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business 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 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 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 value of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $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 accessible through this link. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Eli Lilly and Company

Several large investors have recently made changes to their positions in LLY. Virtu Financial LLC purchased a new position in shares of Eli Lilly and Company during the 1st quarter valued at approximately $2,138,000. Chesley Taft & Associates LLC boosted its holdings in 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. acquired a new position in shares of Eli Lilly and Company during the second quarter valued at approximately $239,000. Long Run Wealth Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the second quarter worth approximately $209,000. Finally, Essex Financial Services Inc. increased its position in shares of Eli Lilly and Company by 5.8% during the second quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock worth $25,517,000 after purchasing an additional 1,556 shares in the last quarter. 82.53% of the stock is currently 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.