Eli Lilly and Company (NYSE:LLY) Stock Price Down 1.2% After Analyst Downgrade

Eli Lilly and Company (NYSE:LLY) shares were down 1.2% during 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. Approximately 1,199,063 shares were traded during trading, a decline of 61% from the average daily volume of 3,047,291 shares. The stock had previously closed at $818.93.

LLY has been the topic of several other research reports. Berenberg Bank raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Guggenheim lifted their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Citigroup lifted their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Barclays lowered their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,008.41.

Hedge Funds Weigh In On Eli Lilly and Company

A number of large investors have recently bought and sold shares of LLY. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Eli Lilly and Company by 19.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after buying an additional 1,620 shares during the last quarter. Lincoln National Corp increased its position in Eli Lilly and Company by 11.7% during the 1st quarter. Lincoln National Corp now owns 17,080 shares of the company’s stock worth $13,288,000 after buying an additional 1,789 shares during the period. Quent Capital LLC increased its position in Eli Lilly and Company by 5.3% during the 1st quarter. Quent Capital LLC now owns 4,943 shares of the company’s stock worth $3,846,000 after buying an additional 249 shares during the period. Pittenger & Anderson Inc. increased its position in Eli Lilly and Company by 123.2% during the 1st quarter. Pittenger & Anderson Inc. now owns 944 shares of the company’s stock worth $734,000 after buying an additional 521 shares during the period. Finally, Consolidated Planning Corp increased its position in Eli Lilly and Company by 1.7% during the 1st quarter. Consolidated Planning Corp now owns 1,166 shares of the company’s stock worth $907,000 after buying an additional 19 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 1.6 %

The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 2.03. The stock has a market cap of $764.83 billion, a P/E ratio of 87.16, a PEG ratio of 3.13 and a beta of 0.43. The firm has a 50-day simple moving average of $911.04 and a two-hundred day simple moving average of $866.97.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period last year, the business earned $0.10 earnings per share. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities research analysts expect that Eli Lilly and Company will post 13.23 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend 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%.

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.