Eli Lilly and Company (NYSE:LLY) Shares Down 2.1% – Here’s Why

Shares of Eli Lilly and Company (NYSE:LLY) dropped 2.1% during mid-day trading on Thursday . The stock traded as low as $1,007.18 and last traded at $1,011.74. Approximately 3,829,323 shares were traded during trading, a decline of 6% from the average daily volume of 4,052,740 shares. The stock had previously closed at $1,033.56.

Analyst Ratings Changes

Several analysts have weighed in on the company. Leerink Partners raised Eli Lilly and Company from a “market perform” rating to an “outperform” rating and upped their target price for the company from $886.00 to $1,104.00 in a report on Monday, November 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating for the company in a report on Monday, August 11th. Scotiabank started coverage on shares of Eli Lilly and Company in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $1,165.00 price target on the stock. DZ Bank raised shares of Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Finally, National Bankshares set a $1,286.00 price objective on Eli Lilly and Company in a research report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $1,087.32.

Eli Lilly and Company Trading Down 2.1%

The stock has a market capitalization of $956.48 billion, a PE ratio of 49.50, a P/E/G ratio of 1.19 and a beta of 0.37. The business’s fifty day moving average is $907.20 and its 200-day moving average is $806.11. The company has a quick ratio of 1.24, a current ratio of 1.55 and a debt-to-equity ratio of 1.71.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, October 30th. The company reported $7.02 EPS for the quarter, topping analysts’ consensus estimates of $6.42 by $0.60. Eli Lilly and Company had a return on equity of 109.52% and a net margin of 30.99%.The business had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $16.09 billion. During the same period in the prior year, the firm posted $1.18 EPS. The business’s revenue for the quarter 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. As a group, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, November 14th. Eli Lilly and Company’s payout ratio is currently 29.35%.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors have recently bought and sold shares of LLY. Laurel Wealth Advisors LLC lifted its stake in shares of Eli Lilly and Company by 78,621.2% during the second quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company’s stock worth $9,005,392,000 after purchasing an additional 11,537,661 shares in the last quarter. Norges Bank purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at about $8,827,714,000. Nuveen LLC acquired a new position in Eli Lilly and Company during the 1st quarter worth approximately $4,613,912,000. Vanguard Group Inc. lifted its position in Eli Lilly and Company by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock worth $65,432,218,000 after acquiring an additional 4,975,395 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in Eli Lilly and Company by 20.9% in the 3rd quarter. Capital Research Global Investors now owns 25,088,371 shares of the company’s stock worth $19,141,787,000 after acquiring an additional 4,332,008 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

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.