Eli Lilly and Company (NYSE:LLY) Stock Price Down 2.3%

Eli Lilly and Company (NYSE:LLY) traded down 2.3% on Wednesday . The stock traded as low as $855.50 and last traded at $857.83. 773,988 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 2,948,978 shares. The stock had previously closed at $878.29.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BMO Capital Markets reissued an “outperform” rating and issued a $1,001.00 price target on shares of Eli Lilly and Company in a report on Wednesday, July 3rd. Morgan Stanley reissued an “overweight” rating and issued a $1,023.00 price target on shares of Eli Lilly and Company in a report on Friday, July 5th. JPMorgan Chase & Co. raised their price target on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. The Goldman Sachs Group lifted their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Barclays lifted their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $858.72.

Eli Lilly and Company Price Performance

The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The stock has a market cap of $776.23 billion, a PE ratio of 121.09, a P/E/G ratio of 1.87 and a beta of 0.41. The company has a fifty day moving average of $869.43 and a 200-day moving average of $780.61.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.62 EPS. Sell-side analysts expect that Eli Lilly and Company will post 13.78 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.64%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the transaction, the executive vice president now owns 25,428 shares in the company, valued at approximately $20,835,194.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,214,704 shares of company stock worth $1,066,841,316 in the last quarter. 0.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Twelve Points Wealth Management LLC grew its stake in shares of Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after purchasing an additional 11 shares during the last quarter. Verum Partners LLC boosted its stake in shares of Eli Lilly and Company by 1.5% in the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after buying an additional 11 shares in the last quarter. Acorn Creek Capital LLC boosted its stake in shares of Eli Lilly and Company by 1.3% in the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock valued at $840,000 after buying an additional 12 shares in the last quarter. Thompson Davis & CO. Inc. boosted its stake in shares of Eli Lilly and Company by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock valued at $1,527,000 after buying an additional 12 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Eli Lilly and Company by 1.8% in the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after buying an additional 13 shares in the last quarter. 82.53% of the stock is currently 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.