Eli Lilly and Company (NYSE:LLY) Stock Price Down 1.2% – Here’s Why

Eli Lilly and Company (NYSE:LLY)’s stock price dropped 1.2% during trading on Wednesday . The stock traded as low as $1,036.41 and last traded at $1,042.0550. Approximately 3,580,224 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 4,030,842 shares. The stock had previously closed at $1,054.29.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Tuesday, October 14th. Leerink Partners upgraded shares of Eli Lilly and Company from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $886.00 to $1,104.00 in a report on Monday, November 10th. Loop Capital set a $950.00 price objective on shares of Eli Lilly and Company in a report on Monday, November 10th. UBS Group lifted their price target on shares of Eli Lilly and Company from $895.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, National Bankshares set a $1,286.00 target price on Eli Lilly and Company in a research report on Monday, December 1st. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $1,141.73.

Eli Lilly and Company Price Performance

The company has a market capitalization of $985.14 billion, a price-to-earnings ratio of 50.98, a PEG ratio of 1.18 and a beta of 0.37. The company has a current ratio of 1.55, a quick ratio of 1.24 and a debt-to-equity ratio of 1.71. The company’s 50 day simple moving average is $948.02 and its 200-day simple moving average is $824.99.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, October 30th. The company reported $7.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.60. Eli Lilly and Company had a net margin of 30.99% and a return on equity of 109.52%. The company had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $16.09 billion. During the same quarter last year, the firm posted $1.18 earnings per share. Eli Lilly and Company’s revenue was up 53.9% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be paid a dividend of $1.73 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.50. The ex-dividend date is Friday, February 13th. This represents a $6.92 dividend on an annualized basis and a yield of 0.7%. Eli Lilly and Company’s payout ratio is 29.35%.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds have recently added to or reduced their stakes in the business. 10Elms LLP grew its holdings in Eli Lilly and Company by 33.3% in the 3rd quarter. 10Elms LLP now owns 40 shares of the company’s stock worth $31,000 after buying an additional 10 shares in the last quarter. Bridgewater Advisors Inc. lifted its holdings in shares of Eli Lilly and Company by 0.3% during the third quarter. Bridgewater Advisors Inc. now owns 3,955 shares of the company’s stock valued at $3,018,000 after purchasing an additional 11 shares during the last quarter. Manske Wealth Management lifted its position in shares of Eli Lilly and Company by 2.5% in the 3rd quarter. Manske Wealth Management now owns 448 shares of the company’s stock valued at $342,000 after acquiring an additional 11 shares in the last quarter. Guardian Partners Inc. raised its position in Eli Lilly and Company by 0.3% during the third quarter. Guardian Partners Inc. now owns 4,000 shares of the company’s stock valued at $3,302,000 after buying an additional 12 shares during the period. Finally, Strategic Investment Solutions Inc. IL grew its position in Eli Lilly and Company by 1.6% during the third quarter. Strategic Investment Solutions Inc. IL now owns 741 shares of the company’s stock valued at $565,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

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.