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

Shares of Eli Lilly and Company (NYSE:LLY) fell 0.8% during 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.

LLY has been the subject of several other research reports. Barclays cut their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. BMO Capital Markets increased their price target 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. Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Finally, Wells Fargo & Company lifted their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $1,008.41.

Hedge Funds Weigh In On Eli Lilly and Company

A number of institutional investors and hedge funds have recently made changes to their positions in LLY. M&G Plc purchased a new position in Eli Lilly and Company during the first quarter valued at $8,896,000. Virtu Financial LLC bought a new position in Eli Lilly and Company in the 1st quarter worth about $2,138,000. China Universal Asset Management Co. Ltd. grew its position in Eli Lilly and Company by 19.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after purchasing an additional 1,620 shares during the last quarter. Chesley Taft & Associates LLC increased its stake in Eli Lilly and Company by 5.4% during the 2nd quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock valued at $20,419,000 after purchasing an additional 1,163 shares in the last quarter. Finally, OMNI 360 Wealth Inc. purchased a new position in Eli Lilly and Company in the second quarter worth about $239,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 3.7 %

The firm’s 50 day moving average price is $901.75 and its 200-day moving average price is $867.32. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a market cap of $737.11 billion, a P/E ratio of 83.94, a P/E/G ratio of 3.05 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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 firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts forecast that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is currently 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.