Eli Lilly and Company (NYSE:LLY) Trading Down 1.2%

Eli Lilly and Company (NYSE:LLY)’s stock price dropped 1.2% during mid-day trading on Thursday . The stock traded as low as $764.60 and last traded at $767.68. Approximately 730,834 shares changed hands during trading, a decline of 76% from the average daily volume of 3,038,991 shares. The stock had previously closed at $776.75.

Analyst Upgrades and Downgrades

LLY has been the subject of several research reports. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Bank of America raised their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. Truist Financial lifted their price objective on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research note on Wednesday. DZ Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 target price on the stock. in a research report on Wednesday, February 21st. Finally, Citigroup boosted their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $757.95.

Eli Lilly and Company Stock Down 2.8 %

The company has a current ratio of 1.35, a quick ratio of 0.73 and a debt-to-equity ratio of 1.90. The business’s fifty day moving average price is $761.75 and its 200 day moving average price is $670.56. The company has a market capitalization of $698.52 billion, a P/E ratio of 108.24, a P/E/G ratio of 1.50 and a beta of 0.37.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Tuesday, April 30th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the previous year, the business earned $1.62 earnings per share. The company’s quarterly revenue was up 26.0% on a year-over-year basis. As a group, equities research analysts predict that Eli Lilly and Company will post 13.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently made changes to their positions in LLY. Norges Bank acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth approximately $5,992,890,000. International Assets Investment Management LLC lifted its position in Eli Lilly and Company by 61,268.8% during the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after buying an additional 7,330,815 shares in the last quarter. Sapient Capital LLC bought a new stake in Eli Lilly and Company during the 4th quarter worth about $682,139,000. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Eli Lilly and Company during the 3rd quarter worth about $435,736,000. Finally, Vanguard Group Inc. raised its stake in shares of Eli Lilly and Company by 0.9% in the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after acquiring an additional 659,838 shares during the last quarter. 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.