Eli Lilly and Company (NYSE:LLY) Stock Price Down 1.9% After Earnings Miss

Eli Lilly and Company (NYSE:LLY)’s stock price fell 1.9% on Thursday following a weaker than expected earnings announcement. The company traded as low as $825.24 and last traded at $830.42. 1,710,472 shares were traded during 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 the consensus estimate of $1.52 by ($0.34). The firm 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 18.86% and a return on equity of 67.52%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the firm posted $0.10 EPS.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LLY shares. Barclays upped their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Wells Fargo & Company lifted their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,011.94.

Institutional Trading of Eli Lilly and Company

Large investors have recently added to or reduced their stakes in the company. Lynx Investment Advisory bought a new stake in Eli Lilly and Company in the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company during the second quarter worth $36,000. Morton Brown Family Wealth LLC raised its position in Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the last quarter. Cedar Mountain Advisors LLC grew its holdings in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the last quarter. Finally, Unique Wealth Strategies LLC bought a new stake in shares of Eli Lilly and Company in the second quarter worth $45,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.6 %

The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The stock has a 50-day moving average price of $916.20 and a 200-day moving average price of $865.10. The company has a market capitalization of $800.40 billion, a P/E ratio of 122.30, a P/E/G ratio of 3.24 and a beta of 0.42.

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.