Eli Lilly and Company (NYSE:LLY) Trading Down 0.5% – Here’s Why

Eli Lilly and Company (NYSE:LLY) shares traded down 0.5% during trading on Friday . The company traded as low as $905.62 and last traded at $912.52. 552,040 shares were traded during mid-day trading, a decline of 81% from the average session volume of 2,975,771 shares. The stock had previously closed at $917.12.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research reports. Bank of America boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Guggenheim boosted their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a report on Thursday. They issued an “outperform” rating and a $1,100.00 price objective for the company. BMO Capital Markets boosted their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, Barclays raised their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Eli Lilly and Company Stock Down 0.1 %

The firm’s 50 day moving average price is $920.70 and its two-hundred day moving average price is $856.27. The company has a market cap of $870.46 billion, a P/E ratio of 134.39, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $9.83 billion. Equities research analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LLY. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company in the 2nd quarter worth $32,000. LGT Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company during the second quarter valued at about $36,000. Redmont Wealth Advisors LLC bought a new stake in shares of Eli Lilly and Company during the first quarter worth about $40,000. Morton Brown Family Wealth LLC raised its holdings in shares of Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the last quarter. Finally, Cedar Mountain Advisors LLC lifted its position in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares in the last quarter. Institutional investors 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.