Eli Lilly and Company (NYSE:LLY) Stock Price Down 0.7% Following Analyst Downgrade

Shares of Eli Lilly and Company (NYSE:LLY) were down 0.7% during mid-day trading on Friday after Barclays lowered their price target on the stock from $1,025.00 to $975.00. Barclays currently has an overweight rating on the stock. Eli Lilly and Company traded as low as $820.50 and last traded at $824.31. Approximately 1,270,751 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 3,036,065 shares. The stock had previously closed at $829.74.

Other analysts also recently issued research reports about the stock. Berenberg Bank increased their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. BMO Capital Markets boosted their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Wells Fargo & Company raised their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,009.00.

Hedge Funds Weigh In On Eli Lilly and Company

Large investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its position in shares of Eli Lilly and Company by 19.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after buying an additional 1,620 shares during the last quarter. Westwood Wealth Management bought a new position in Eli Lilly and Company in the first quarter worth about $1,256,000. Hanlon Investment Management Inc. lifted its holdings in Eli Lilly and Company by 3.3% in the first quarter. Hanlon Investment Management Inc. now owns 3,534 shares of the company’s stock worth $2,749,000 after acquiring an additional 112 shares during the last quarter. PDS Planning Inc grew its holdings in shares of Eli Lilly and Company by 1.6% during the first quarter. PDS Planning Inc now owns 5,065 shares of the company’s stock valued at $3,940,000 after purchasing an additional 81 shares during the last quarter. Finally, Valley Brook Capital Group Inc. raised its position in shares of Eli Lilly and Company by 3.6% during the 1st quarter. Valley Brook Capital Group Inc. now owns 1,358 shares of the company’s stock worth $1,056,000 after purchasing an additional 47 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Trading Down 1.3 %

The firm has a market cap of $777.43 billion, a P/E ratio of 88.53, a P/E/G ratio of 3.13 and a beta of 0.43. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.87 and a current ratio of 1.27. The firm has a fifty day moving average of $911.04 and a 200-day moving average of $866.16.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. Equities research analysts forecast that Eli Lilly and Company will post 13.23 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced 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 0.63%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

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.