Eli Lilly and Company (NYSE:LLY) Stock Price Down 0.2% After Analyst Downgrade

Eli Lilly and Company (NYSE:LLYGet Free Report)’s share price dropped 0.2% during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $1,250.00 to $1,190.00. Citigroup currently has a buy rating on the stock. Eli Lilly and Company traded as low as $800.11 and last traded at $806.50. Approximately 703,587 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 3,992,015 shares. The stock had previously closed at $808.17.

Other analysts have also recently issued reports about the stock. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company lowered their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Sanford C. Bernstein assumed 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. Finally, Barclays dropped their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $997.22.

Get Our Latest Report on Eli Lilly and Company

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Summit Financial Strategies Inc. raised its stake in shares of Eli Lilly and Company by 0.5% in the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after acquiring an additional 11 shares during the last quarter. Prio Wealth Limited Partnership raised its position in Eli Lilly and Company by 0.5% in the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after purchasing an additional 11 shares during the last quarter. First Community Trust NA lifted its holdings in Eli Lilly and Company by 4.9% during the 3rd quarter. First Community Trust NA now owns 257 shares of the company’s stock worth $228,000 after buying an additional 12 shares in the last quarter. Hummer Financial Advisory Services Inc boosted its position in Eli Lilly and Company by 1.0% in the 3rd quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company’s stock valued at $1,126,000 after buying an additional 12 shares during the last quarter. Finally, James Hambro & Partners LLP raised its position in shares of Eli Lilly and Company by 3.7% during the third quarter. James Hambro & Partners LLP now owns 340 shares of the company’s stock worth $301,000 after acquiring an additional 12 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.4 %

The firm has a 50 day moving average price of $778.30 and a 200-day moving average price of $847.30. The firm has a market cap of $764.08 billion, a price-to-earnings ratio of 87.01, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLYGet Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate 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 business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, equities analysts predict that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.75%. Eli Lilly and Company’s payout ratio is presently 56.22%.

Eli Lilly and Company announced that its Board of Directors has approved a share repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Company Profile

(Get Free Report)

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.

Further Reading

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