Eli Lilly and Company (NYSE:LLY) Trading Down 0.7% – Here’s Why

Shares of Eli Lilly and Company (NYSE:LLY) fell 0.7% during mid-day trading on Thursday . The stock traded as low as $909.39 and last traded at $913.19. 453,182 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 3,006,710 shares. The stock had previously closed at $919.74.

Analysts Set New Price Targets

LLY has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,025.00 price target on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday. 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 stock a “buy” rating in a research note on Friday, August 9th. Finally, Berenberg Bank lifted their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $979.29.

Eli Lilly and Company Trading Up 2.3 %

The company has a market cap of $885.83 billion, a PE ratio of 137.27, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company’s 50 day simple moving average is $910.84 and its two-hundred day simple moving average is $852.32. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87.

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

Hedge Funds Weigh In On Eli Lilly and Company

Several hedge funds have recently bought and sold shares of LLY. Swedbank AB acquired a new position in shares of Eli Lilly and Company in the first quarter valued at approximately $932,797,000. Vanguard Group Inc. raised its stake in shares of Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after acquiring an additional 1,133,810 shares in the last quarter. Wulff Hansen & CO. boosted its holdings in Eli Lilly and Company by 90,438.0% in the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after purchasing an additional 936,033 shares during the period. GQG Partners LLC grew its stake in Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after purchasing an additional 648,094 shares in the last quarter. Finally, Comerica Bank increased its holdings in Eli Lilly and Company by 71.6% during the 2nd quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock worth $1,369,825,000 after purchasing an additional 631,312 shares during the period. 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.