Eli Lilly and Company (NYSE:LLY) Trading Down 0.6% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY)’s share price was down 0.6% during mid-day trading on Wednesday . The company traded as low as $897.84 and last traded at $907.50. Approximately 386,405 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 2,985,519 shares. The stock had previously closed at $913.32.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Truist Financial lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Berenberg Bank increased their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a report on Thursday. They set an “outperform” rating and a $1,100.00 target price for the company. Finally, 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 note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $986.00.

Eli Lilly and Company Stock Up 0.0 %

The firm has a 50-day moving average price of $920.70 and a two-hundred day moving average price of $856.27. 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 firm has a market cap of $871.78 billion, a price-to-earnings ratio of 134.90, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share 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 business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. On average, sell-side analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Institutional Trading of Eli Lilly and Company

Several institutional investors and hedge funds have recently made changes to their positions in the company. Twelve Points Wealth Management LLC lifted its holdings in Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after acquiring an additional 11 shares during the last quarter. Verum Partners LLC lifted its holdings in Eli Lilly and Company by 1.5% in the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after acquiring an additional 11 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in Eli Lilly and Company by 2.2% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after acquiring an additional 11 shares during the last quarter. Summit Financial Strategies Inc. lifted its holdings in Eli Lilly and Company by 0.5% in the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after acquiring an additional 11 shares during the last quarter. Finally, Acorn Creek Capital LLC lifted its holdings in Eli Lilly and Company by 1.3% in the 2nd quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock valued at $840,000 after acquiring an additional 12 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other 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.