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

Eli Lilly and Company (NYSE:LLY)’s stock price fell 0.7% on Thursday . The company traded as low as $883.01 and last traded at $885.09. 634,415 shares traded hands during trading, a decline of 79% from the average session volume of 3,029,120 shares. The stock had previously closed at $891.07.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Guggenheim upped their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Berenberg Bank increased their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price target on shares of 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. Finally, Bank of America increased their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company Stock Performance

The firm’s 50-day simple moving average is $900.13 and its two-hundred day simple moving average is $847.35. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $842.33 billion, a PE ratio of 130.53, a PEG ratio of 2.78 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. The business had revenue of $11.30 billion during 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, equities research analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently made changes to their positions in LLY. Swedbank AB acquired a new position in shares of Eli Lilly and Company during the 1st quarter worth $932,797,000. Vanguard Group Inc. boosted its holdings in Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after purchasing an additional 1,133,810 shares in the last quarter. Wulff Hansen & CO. increased its position in Eli Lilly and Company by 90,438.0% during the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock worth $848,403,000 after buying an additional 936,033 shares during 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 valued at $2,994,280,000 after buying an additional 648,094 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of Eli Lilly and Company by 71.6% in the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock worth $1,369,825,000 after buying an additional 631,312 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.