Eli Lilly and Company (NYSE:LLY) Trading Down 1% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY) fell 1% on Tuesday . The company traded as low as $788.94 and last traded at $799.17. 924,971 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 3,644,508 shares. The stock had previously closed at $807.58.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LLY. Wall Street Zen raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their price target for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, Erste Group Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.37.

Eli Lilly and Company Stock Down 1.8%

The company has a 50 day moving average of $777.10 and a 200-day moving average of $801.77. The company has a market capitalization of $751.92 billion, a P/E ratio of 67.69, a PEG ratio of 1.40 and a beta of 0.40. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The business’s revenue was up 45.2% compared to the same quarter last year. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a $1.50 dividend. The ex-dividend date was Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Institutional Investors Weigh In On Eli Lilly and Company

Institutional investors have recently modified their holdings of the stock. Kondo Wealth Advisors Inc. bought a new stake in Eli Lilly and Company during the 1st quarter valued at about $205,000. First Long Island Investors LLC lifted its holdings in shares of Eli Lilly and Company by 14.1% during the first quarter. First Long Island Investors LLC now owns 27,020 shares of the company’s stock valued at $22,316,000 after purchasing an additional 3,336 shares in the last quarter. eCIO Inc. purchased a new stake in shares of Eli Lilly and Company during the first quarter valued at $732,000. Harold Davidson & Associates Inc. grew its position in Eli Lilly and Company by 1.0% in the 1st quarter. Harold Davidson & Associates Inc. now owns 4,084 shares of the company’s stock worth $3,373,000 after purchasing an additional 42 shares during the period. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in shares of Eli Lilly and Company by 14.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 548 shares of the company’s stock valued at $453,000 after buying an additional 68 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.