Eli Lilly and Company (NYSE:LLY) Shares Down 0.5% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY)’s stock price traded down 0.5% during mid-day trading on Friday . The stock traded as low as $905.62 and last traded at $912.52. 552,040 shares traded hands during trading, a decline of 81% from the average session volume of 2,975,771 shares. The stock had previously closed at $917.12.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday. They issued an “outperform” rating and a $1,100.00 price target for the company. Bank of America increased their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. BMO Capital Markets increased their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, Citigroup began coverage on Eli Lilly and Company in a research note on Friday, September 13th. They issued a “buy” rating and a $1,060.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Eli Lilly and Company Stock Down 0.1 %

The firm has a market capitalization of $870.46 billion, a P/E ratio of 134.39, a PEG ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The stock has a 50 day moving average of $920.70 and a 200-day moving average of $856.27.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Research analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Institutional Trading of Eli Lilly and Company

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company during the second quarter valued at about $32,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $36,000. Redmont Wealth Advisors LLC purchased a new stake in Eli Lilly and Company in the 1st quarter worth approximately $40,000. Morton Brown Family Wealth LLC boosted its holdings in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the period. Finally, Cedar Mountain Advisors LLC grew its position in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares in the last quarter. 82.53% of the stock is currently owned by 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.