Eli Lilly and Company (NYSE:LLY) Stock Price Down 2.2% – Here’s Why

Eli Lilly and Company (NYSE:LLY)’s stock price dropped 2.2% during trading on Friday . The stock traded as low as $722.57 and last traded at $726.38. Approximately 1,383,618 shares changed hands during trading, a decline of 66% from the average daily volume of 4,124,081 shares. The stock had previously closed at $742.91.

Analysts Set New Price Targets

LLY has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Morgan Stanley reissued an “overweight” rating and set a $1,135.00 target price (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Erste Group Bank cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. UBS Group reduced their target price on Eli Lilly and Company from $1,050.00 to $895.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Finally, Hsbc Global Res raised Eli Lilly and Company from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $950.17.

Eli Lilly and Company Stock Performance

The company has a market capitalization of $687.46 billion, a PE ratio of 47.47, a PEG ratio of 1.01 and a beta of 0.47. The company has a 50 day moving average of $743.84 and a two-hundred day moving average of $781.22. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.72. The company had revenue of $15.56 billion for the quarter, compared to analysts’ expectations of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The firm’s revenue for the quarter was up 37.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. As a group, equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio is 39.22%.

Insider Activity

In related news, EVP Daniel Skovronsky acquired 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average price of $634.40 per share, with a total value of $634,400.00. Following the transaction, the executive vice president directly owned 137,660 shares in the company, valued at approximately $87,331,504. This represents a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gabrielle Sulzberger bought 117 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was bought at an average cost of $641.18 per share, for a total transaction of $75,018.06. Following the completion of the acquisition, the director directly owned 2,703 shares of the company’s stock, valued at approximately $1,733,109.54. This represents a 4.52% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 4,514 shares of company stock valued at $2,894,841. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors have recently modified their holdings of LLY. PNC Financial Services Group Inc. grew its stake in shares of Eli Lilly and Company by 97.5% in the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock worth $83,669,349,000 after acquiring an additional 50,002,551 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after acquiring an additional 14,852,076 shares during the last quarter. Laurel Wealth Advisors LLC grew its stake in shares of Eli Lilly and Company by 78,621.2% in the second quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company’s stock worth $9,005,392,000 after acquiring an additional 11,537,661 shares during the last quarter. Norges Bank purchased a new stake in shares of Eli Lilly and Company in the second quarter worth $8,827,714,000. Finally, Nuveen LLC purchased a new stake in shares of Eli Lilly and Company in the first quarter worth $4,613,912,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.