Eli Lilly and Company (NYSE:LLY) Trading Down 4.5% – Here’s Why

Eli Lilly and Company (NYSE:LLY) shares fell 4.5% during trading on Wednesday . The stock traded as low as $768.23 and last traded at $769.81. 3,407,491 shares traded hands during trading, an increase of 11% from the average session volume of 3,062,629 shares. The stock had previously closed at $806.06.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LLY shares. Wells Fargo & Company raised their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. boosted their target price on 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. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,008.41.

Eli Lilly and Company Stock Performance

The firm’s fifty day moving average is $901.75 and its 200-day moving average is $867.32. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $737.11 billion, a PE ratio of 83.94, a price-to-earnings-growth ratio of 3.05 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period last year, the firm posted $0.10 earnings per share. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. As a group, research analysts anticipate that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.67%. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares during the period. Swedbank AB acquired a new stake in Eli Lilly and Company during the 1st quarter worth approximately $932,797,000. Vanguard Group Inc. boosted its position in Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after buying an additional 1,133,810 shares during the period. Pathway Financial Advisers LLC grew its stake in shares of Eli Lilly and Company by 92,759.9% in the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock worth $905,774,000 after acquiring an additional 1,021,287 shares in the last quarter. Finally, Wulff Hansen & CO. increased its position in shares of Eli Lilly and Company by 90,438.0% during the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock worth $848,403,000 after acquiring an additional 936,033 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.