Eli Lilly and Company (NYSE:LLY) Shares Down 0.6% – Here’s Why

Eli Lilly and Company (NYSE:LLY)’s share price fell 0.6% during mid-day trading on Wednesday . The company traded as low as $900.75 and last traded at $903.58. 376,179 shares were traded during mid-day trading, a decline of 87% from the average session volume of 2,956,792 shares. The stock had previously closed at $909.15.

Wall Street Analyst Weigh In

LLY has been the subject of a number of recent research reports. Guggenheim boosted their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. BMO Capital Markets upped 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 report on Friday, August 9th. JPMorgan Chase & Co. raised their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Barclays upped their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,002.24.

Eli Lilly and Company Stock Performance

The stock has a market capitalization of $853.51 billion, a PE ratio of 133.08, a PEG ratio of 2.79 and a beta of 0.42. 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’s 50-day simple moving average is $921.67 and its two-hundred day simple moving average is $860.45.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly 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 net margin of 18.86% and a return on equity of 67.52%. On average, equities research analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. West Michigan Advisors LLC increased its stake in shares of Eli Lilly and Company by 1.8% during the 3rd quarter. West Michigan Advisors LLC now owns 2,622 shares of the company’s stock worth $2,323,000 after purchasing an additional 46 shares during the last quarter. Mraz Amerine & Associates Inc. bought a new stake in Eli Lilly and Company in the third quarter worth $232,000. Nicholson Wealth Management Group LLC acquired a new position in Eli Lilly and Company during the third quarter worth $372,000. Mainstay Capital Management LLC ADV bought a new position in Eli Lilly and Company during the third quarter valued at about $203,000. Finally, Zweig DiMenna Associates LLC lifted its position in shares of Eli Lilly and Company by 12.5% in the third quarter. Zweig DiMenna Associates LLC now owns 22,140 shares of the company’s stock worth $19,615,000 after buying an additional 2,460 shares during the last quarter. Hedge funds and other 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.