Eli Lilly and Company (NYSE:LLY) Shares Down 2.7% – Here’s Why

Eli Lilly and Company (NYSE:LLY)’s stock price traded down 2.7% during trading on Friday . The stock traded as low as $1,067.69 and last traded at $1,074.94. 2,731,857 shares were traded during trading, a decline of 33% from the average session volume of 4,064,081 shares. The stock had previously closed at $1,104.34.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group increased their price objective on Eli Lilly and Company from $895.00 to $1,080.00 and gave the company a “buy” rating in a report on Friday, November 7th. Cantor Fitzgerald upped their target price on shares of Eli Lilly and Company from $925.00 to $985.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Daiwa America cut Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research report on Sunday, August 17th. Daiwa Capital Markets upped their price objective on Eli Lilly and Company from $700.00 to $940.00 in a research note on Monday, November 10th. Finally, Scotiabank initiated coverage on Eli Lilly and Company in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $1,165.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,047.50.

Eli Lilly and Company Price Performance

The stock has a market cap of $1.02 trillion, a price-to-earnings ratio of 70.26, a PEG ratio of 1.21 and a beta of 0.43. The company’s 50 day moving average is $882.95 and its 200 day moving average is $797.01. 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 earnings results on Thursday, October 30th. The company reported $7.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.42 by $0.60. The company had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $16.09 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The firm’s quarterly revenue was up 53.9% compared to the same quarter last year. During the same period last year, the company posted $1.18 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. Research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be given a $1.50 dividend. The ex-dividend date is Friday, November 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.6%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 29.35%.

Institutional Investors Weigh In On Eli Lilly and Company

A number of large investors have recently bought and sold shares of LLY. PNC Financial Services Group Inc. increased its stake in Eli Lilly and Company by 97.5% during 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. Vanguard Group Inc. grew its holdings in shares of Eli Lilly and Company by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 80,959,089 shares of the company’s stock worth $61,771,785,000 after purchasing an additional 551,659 shares during the period. State Street Corp grew its holdings in shares of Eli Lilly and Company by 0.6% during the 3rd quarter. State Street Corp now owns 34,726,558 shares of the company’s stock worth $26,496,364,000 after purchasing an additional 219,590 shares during the period. Capital Research Global Investors raised its holdings in Eli Lilly and Company by 20.9% in the third quarter. Capital Research Global Investors now owns 25,088,371 shares of the company’s stock valued at $19,141,787,000 after buying an additional 4,332,008 shares during the period. Finally, Wellington Management Group LLP lifted its position in Eli Lilly and Company by 4.1% during the third quarter. Wellington Management Group LLP now owns 14,563,780 shares of the company’s stock valued at $11,112,164,000 after buying an additional 574,229 shares in the last quarter. Institutional investors and hedge funds 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.