Eli Lilly and Company (NYSE:LLY) Trading Down 1.2% Following Analyst Downgrade

Shares of Eli Lilly and Company (NYSE:LLY) fell 1.2% during mid-day trading on Monday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $1,025.00 to $1,015.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Eli Lilly and Company traded as low as $805.00 and last traded at $809.43. 1,199,063 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 3,047,291 shares. The stock had previously closed at $818.93.

Other equities research analysts also recently issued research reports about the company. Truist Financial boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. Wells Fargo & Company upped their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, Citigroup upped their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,008.41.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LLY. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC purchased a new stake in Eli Lilly and Company in the second quarter valued at approximately $36,000. Cedar Mountain Advisors LLC lifted its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the last quarter. Morton Brown Family Wealth LLC grew its stake in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares in the last quarter. Finally, Unique Wealth Strategies LLC bought a new position in shares of Eli Lilly and Company in the 2nd quarter worth $45,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.87 and a current ratio of 1.27. The stock has a market cap of $765.28 billion, a PE ratio of 87.15, a PEG ratio of 3.13 and a beta of 0.43. The company’s 50-day moving average price is $908.15 and its two-hundred day moving average price is $867.39.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results 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 firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the previous year, the business earned $0.10 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities research analysts forecast that Eli Lilly and Company will post 13.23 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

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.