Eli Lilly and Company (NYSE:LLY) Trading Down 1% – What’s Next?

Eli Lilly and Company (NYSE:LLY)’s share price dropped 1% on Thursday . The company traded as low as $890.70 and last traded at $894.54. Approximately 504,112 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 2,956,188 shares. The stock had previously closed at $903.25.

Analyst Ratings Changes

A number of research analysts recently issued reports on LLY shares. Truist Financial raised their target price on shares of 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. Barclays lifted their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Bank of America raised their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Sanford C. Bernstein initiated 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 objective on the stock. Finally, Guggenheim upped their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,013.41.

Eli Lilly and Company Stock Up 0.1 %

The company has a market capitalization of $848.27 billion, a price-to-earnings ratio of 109.92, a P/E/G ratio of 3.24 and a beta of 0.42. The business has a fifty day simple moving average of $919.74 and a two-hundred day simple moving average of $861.75. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Equities analysts expect that Eli Lilly and Company will post 14.05 EPS for the current year.

Institutional Investors Weigh In On Eli Lilly and Company

Several large investors have recently made changes to their positions in the company. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company during the second quarter worth approximately $32,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company in the second quarter worth $36,000. Redmont Wealth Advisors LLC bought a new stake in shares of Eli Lilly and Company during the first quarter worth $40,000. Morton Brown Family Wealth LLC increased its stake in shares of Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after buying an additional 15 shares in the last quarter. Finally, Cedar Mountain Advisors LLC increased its stake in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares in the last quarter. Institutional investors 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.