Eli Lilly and Company (NYSE:LLY) Trading Down 0.6% – What’s Next?

Eli Lilly and Company (NYSE:LLY)’s share price traded down 0.6% on Monday . The stock traded as low as $747.56 and last traded at $753.18. 1,244,157 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 3,590,590 shares. The stock had previously closed at $757.39.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LLY shares. Truist Financial raised their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price objective for the company. Hsbc Global Res downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $1,011.37.

Eli Lilly and Company Price Performance

The stock has a market capitalization of $715.49 billion, a PE ratio of 64.47, a P/E/G ratio of 1.40 and a beta of 0.48. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The stock’s 50-day moving average is $797.84 and its 200 day moving average is $805.69.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. The company’s revenue was up 45.2% on a year-over-year basis. As a group, equities analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.79%. Eli Lilly and Company’s dividend payout ratio is 48.82%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eli Lilly and Company

Several institutional investors have recently bought and sold shares of LLY. WestEnd Advisors LLC raised its position in shares of Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock valued at $26,000 after purchasing an additional 21 shares during the period. Wealth Preservation Advisors LLC acquired a new position in Eli Lilly and Company in the 1st quarter valued at $27,000. Citizens National Bank Trust Department raised its holdings in Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock worth $35,000 after acquiring an additional 27 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in Eli Lilly and Company during the 1st quarter worth $40,000. Finally, FPC Investment Advisory Inc. boosted its holdings in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares during the period. 82.53% of the stock is currently owned by institutional investors.

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.