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

Eli Lilly and Company (NYSE:LLY) shares traded down 0.6% on Monday . The company traded as low as $910.11 and last traded at $912.07. 312,110 shares were traded during mid-day trading, a decline of 89% from the average session volume of 2,971,196 shares. The stock had previously closed at $917.97.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group upped their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Citigroup started coverage on Eli Lilly and Company in a report on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price target on the stock. Bank of America increased their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Berenberg Bank increased their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Truist Financial increased their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average 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 current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $863.60 billion, a PE ratio of 133.58, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The firm has a 50-day moving average of $921.21 and a two-hundred day moving average of $858.60.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position 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 valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. Capital Research Global Investors raised its position in Eli Lilly and Company by 6.0% in 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 purchasing an additional 453,939 shares during the period. Capital International Investors raised its position in Eli Lilly and Company by 5.1% in the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock valued at $5,424,243,000 after purchasing an additional 335,560 shares during the period. GQG Partners LLC raised its position in Eli Lilly and Company by 20.2% in the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after purchasing an additional 648,094 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Eli Lilly and Company by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock valued at $3,242,296,000 after purchasing an additional 171,595 shares during the period. 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.