Eli Lilly and Company (NYSE:LLY) Stock Price Down 2.1% – Should You Sell?

Eli Lilly and Company (NYSE:LLY)’s stock price fell 2.1% during mid-day trading on Tuesday . The company traded as low as $814.01 and last traded at $814.70. 805,882 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 3,103,661 shares. The stock had previously closed at $832.44.

Analysts Set New Price Targets

A number of research analysts recently commented on LLY shares. Barclays decreased their price objective on 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 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. Sanford C. Bernstein started coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of 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. Finally, Wells Fargo & Company raised their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,008.41.

Eli Lilly and Company Stock Performance

The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a fifty day simple moving average of $893.78 and a two-hundred day simple moving average of $870.11. The stock has a market cap of $777.29 billion, a price-to-earnings ratio of 88.08, a P/E/G ratio of 3.15 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the company posted $0.10 EPS. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. Analysts expect that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 56.22%.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently bought and sold shares of LLY. WESPAC Advisors LLC increased its stake in shares of Eli Lilly and Company by 3.5% in the third quarter. WESPAC Advisors LLC now owns 2,459 shares of the company’s stock worth $2,179,000 after buying an additional 84 shares during the period. Lane & Associates LLC raised its holdings in shares of Eli Lilly and Company by 2.5% in the third quarter. Lane & Associates LLC now owns 2,661 shares of the company’s stock worth $2,358,000 after buying an additional 66 shares during the last quarter. Truepoint Inc. increased its holdings in Eli Lilly and Company by 99.1% in the 3rd quarter. Truepoint Inc. now owns 462 shares of the company’s stock worth $409,000 after buying an additional 230 shares during the period. Jim Saulnier & Associates LLC acquired a new position in shares of Eli Lilly and Company in the 3rd quarter valued at about $210,000. Finally, KKM Financial LLC grew its stake in Eli Lilly and Company by 8.2% during the 3rd quarter. KKM Financial LLC now owns 2,941 shares of the company’s stock worth $2,606,000 after purchasing an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

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.