Eli Lilly and Company (NYSE:LLY) Stock Price Down 1.2% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY)’s share price traded down 1.2% on Wednesday . The company traded as low as $1,036.41 and last traded at $1,042.0550. 3,580,224 shares were traded during mid-day trading, a decline of 11% from the average session volume of 4,030,842 shares. The stock had previously closed at $1,054.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Berenberg Bank upped their price target on shares of Eli Lilly and Company from $830.00 to $950.00 and gave the company a “hold” rating in a report on Tuesday, December 2nd. Wolfe Research raised their target price on Eli Lilly and Company from $1,050.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. lifted their target price on shares of Eli Lilly and Company from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Morgan Stanley upped their target price on shares of Eli Lilly and Company from $1,171.00 to $1,290.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Finally, Sanford C. Bernstein boosted their price objective on Eli Lilly and Company from $1,100.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Monday, November 24th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $1,141.73.

Eli Lilly and Company Price Performance

The stock has a market cap of $985.14 billion, a P/E ratio of 50.98, a PEG ratio of 1.18 and a beta of 0.37. The company has a 50 day simple moving average of $948.02 and a 200 day simple moving average of $824.99. The company has a current ratio of 1.55, a quick ratio of 1.24 and a debt-to-equity ratio of 1.71.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, October 30th. The company reported $7.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.60. Eli Lilly and Company had a return on equity of 109.52% and a net margin of 30.99%.The company had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $16.09 billion. During the same quarter in the prior year, the business posted $1.18 EPS. The business’s revenue was up 53.9% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. Sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be issued a $1.73 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $6.92 dividend on an annualized basis and a yield of 0.7%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.50. Eli Lilly and Company’s payout ratio is presently 29.35%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Laurel Wealth Advisors LLC raised its stake in Eli Lilly and Company by 78,621.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company’s stock worth $9,005,392,000 after buying an additional 11,537,661 shares during the period. Norges Bank acquired a new position in shares of Eli Lilly and Company during the second quarter worth approximately $8,827,714,000. Capital Research Global Investors lifted its holdings in shares of Eli Lilly and Company by 20.9% in the 3rd quarter. Capital Research Global Investors now owns 25,088,371 shares of the company’s stock worth $19,141,787,000 after purchasing an additional 4,332,008 shares in the last quarter. Vanguard Group Inc. grew its position in Eli Lilly and Company by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 80,407,430 shares of the company’s stock valued at $62,680,004,000 after purchasing an additional 1,183,038 shares during the period. Finally, Amundi grew its position in Eli Lilly and Company by 27.1% in the 3rd quarter. Amundi now owns 4,525,902 shares of the company’s stock valued at $3,823,977,000 after purchasing an additional 964,675 shares during the period. Institutional investors and hedge funds 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.