Eli Lilly and Company (NYSE:LLY) Stock Price Up 3% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY) rose 3% during trading on Wednesday . The company traded as high as $1,022.42 and last traded at $1,018.28. Approximately 5,164,520 shares traded hands during mid-day trading, an increase of 27% from the average daily volume of 4,069,914 shares. The stock had previously closed at $988.62.

Analyst Ratings Changes

A number of research analysts recently commented on LLY shares. Deutsche Bank Aktiengesellschaft dropped their price target on Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Eli Lilly and Company in a report on Monday, November 3rd. Wall Street Zen upgraded shares of Eli Lilly and Company from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. JPMorgan Chase & Co. lowered their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set an “overweight” rating for the company in a research report on Tuesday, September 16th. Finally, Berenberg Bank restated a “hold” rating and set a $830.00 target price (down from $970.00) on shares of Eli Lilly and Company in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $981.89.

Eli Lilly and Company Trading Up 3.0%

The business’s fifty day moving average is $809.69 and its 200-day moving average is $776.47. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. The firm has a market cap of $962.67 billion, a P/E ratio of 66.55, a price-to-earnings-growth ratio of 1.21 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, October 30th. The company reported $7.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.60. The firm had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $16.09 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company’s revenue was up 53.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.18 EPS. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. Analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, November 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 29.35%.

Institutional Investors Weigh In On Eli Lilly and Company

Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock worth $83,669,349,000 after buying an additional 50,002,551 shares during the last quarter. Laurel Wealth Advisors LLC grew its holdings in Eli Lilly and Company by 78,621.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company’s stock worth $9,005,392,000 after acquiring an additional 11,537,661 shares during the period. Norges Bank bought a new position in shares of Eli Lilly and Company in the 2nd quarter worth about $8,827,714,000. Nuveen LLC bought a new position in shares of Eli Lilly and Company in the 1st quarter worth about $4,613,912,000. Finally, Vanguard Group Inc. lifted its stake in shares of Eli Lilly and Company by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock valued at $65,432,218,000 after purchasing an additional 4,975,395 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

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.