Eli Lilly and Company (NYSE:LLY) Trading Down 0.8% After Analyst Downgrade

Eli Lilly and Company (NYSE:LLY) traded down 0.8% during mid-day trading on Tuesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $1,025.00 to $1,015.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Eli Lilly and Company traded as low as $799.00 and last traded at $799.75. 778,297 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 3,049,394 shares. The stock had previously closed at $806.14.

Several other analysts have also recently weighed in on the stock. Truist Financial raised their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barclays reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. BMO Capital Markets increased their target price on shares of 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. increased their target price 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, Sanford C. Bernstein assumed 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 target price on the stock. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,008.41.

Institutional Investors Weigh In On Eli Lilly and Company

A number of large investors have recently modified their holdings of the stock. Lynx Investment Advisory purchased a new position in Eli Lilly and Company during the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company during the 2nd quarter valued at about $36,000. Morton Brown Family Wealth LLC lifted its position in Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after acquiring an additional 15 shares during the period. Cedar Mountain Advisors LLC lifted its position 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 valued at $41,000 after acquiring an additional 16 shares during the period. Finally, Unique Wealth Strategies LLC purchased a new position in Eli Lilly and Company during the 2nd quarter valued at about $45,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

The firm’s fifty day simple moving average is $908.15 and its 200-day simple moving average is $867.39. The firm has a market capitalization of $758.36 billion, a PE ratio of 86.46, a PEG ratio of 3.09 and a beta of 0.43. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. 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 during the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 EPS. On average, research analysts forecast that Eli Lilly and Company will post 13.23 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $1.30 dividend. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.65%. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

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.