Eli Lilly and Company (NYSE:LLY) Shares Down 3.3% – Should You Sell?

Shares of Eli Lilly and Company (NYSE:LLY) dropped 3.3% during trading on Friday . The company traded as low as $750.68 and last traded at $760.59. Approximately 2,343,248 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 3,115,656 shares. The stock had previously closed at $786.23.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of research reports. BMO Capital Markets upped their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. 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 research report on Friday, August 16th. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Finally, Bank of America reduced their target price on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

Eli Lilly and Company Trading Down 4.9 %

The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The business’s fifty day simple moving average is $882.65 and its 200 day simple moving average is $869.77. The stock has a market cap of $708.38 billion, a price-to-earnings ratio of 80.67, a P/E/G ratio of 3.07 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the company earned $0.10 EPS. Eli Lilly and Company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts predict that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.70%. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

Institutional Trading of Eli Lilly and Company

Several hedge funds have recently bought and sold shares of LLY. China Universal Asset Management Co. Ltd. increased its position in Eli Lilly and Company by 19.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after acquiring an additional 1,620 shares during the period. Acadian Asset Management LLC raised its stake in shares of Eli Lilly and Company by 6.6% during the first quarter. Acadian Asset Management LLC now owns 36,897 shares of the company’s stock valued at $28,699,000 after purchasing an additional 2,289 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in Eli Lilly and Company by 13.8% in the first quarter. Edgestream Partners L.P. now owns 5,348 shares of the company’s stock worth $4,161,000 after purchasing an additional 649 shares during the period. Covestor Ltd grew its position in Eli Lilly and Company by 6.5% in the 1st quarter. Covestor Ltd now owns 296 shares of the company’s stock valued at $230,000 after buying an additional 18 shares in the last quarter. Finally, Alley Investment Management Company LLC increased its stake in Eli Lilly and Company by 0.4% during the 1st quarter. Alley Investment Management Company LLC now owns 10,623 shares of the company’s stock valued at $8,264,000 after buying an additional 38 shares during the period. 82.53% of the stock is currently owned by 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.