Eli Lilly and Company (NYSE:LLY) Trading Down 2% – What’s Next?

Eli Lilly and Company (NYSE:LLY) traded down 2% during mid-day trading on Tuesday . The company traded as low as $909.65 and last traded at $911.16. 715,946 shares were traded during mid-day trading, a decline of 76% from the average session volume of 2,990,699 shares. The stock had previously closed at $929.51.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Bank of America lifted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Barclays lifted their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Citigroup assumed coverage on shares of Eli Lilly and Company in a research report on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price target on the stock. BMO Capital Markets lifted their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Guggenheim lifted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Eli Lilly and Company Price Performance

The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The stock’s 50 day simple moving average is $919.25 and its two-hundred day simple moving average is $855.84. The stock has a market cap of $871.69 billion, a price-to-earnings ratio of 135.74, a P/E/G ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. On average, analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors have recently bought and sold shares of the business. Capital Planning LLC acquired a new stake in shares of Eli Lilly and Company in the 1st quarter valued at $262,000. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Eli Lilly and Company in the 1st quarter valued at $6,916,000. M&G Plc acquired a new stake in shares of Eli Lilly and Company in the 1st quarter valued at $8,896,000. BTC Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 1st quarter valued at $1,432,000. Finally, High Net Worth Advisory Group LLC boosted its stake in shares of Eli Lilly and Company by 1.4% in the 1st quarter. High Net Worth Advisory Group LLC now owns 4,919 shares of the company’s stock valued at $3,827,000 after purchasing an additional 67 shares in the last quarter. 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.