Eli Lilly and Company (NYSE:LLY) Trading Down 2% – Here’s Why

by · The Markets Daily

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Berenberg Bank boosted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Bank of America boosted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. BMO Capital Markets boosted their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, Citigroup assumed coverage on Eli Lilly and Company in a report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target for the company. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $979.29.

Read Our Latest Research Report on Eli Lilly and Company

Eli Lilly and Company Price Performance

The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $867.43 billion, a PE ratio of 134.14, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The stock’s 50-day moving average is $913.95 and its two-hundred day moving average is $854.46.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, equities analysts predict that Eli Lilly and Company will post 16.49 EPS for the current year.

Hedge Funds Weigh In On Eli Lilly and Company

Several institutional investors have recently bought and sold shares of LLY. Swedbank AB purchased a new position in shares of Eli Lilly and Company in the 1st quarter valued at approximately $932,797,000. Vanguard Group Inc. raised its holdings in shares of Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after buying an additional 1,133,810 shares during the last quarter. Wulff Hansen & CO. lifted its stake in shares of Eli Lilly and Company by 90,438.0% during the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock worth $848,403,000 after buying an additional 936,033 shares during the period. GQG Partners LLC grew its holdings in shares of Eli Lilly and Company by 20.2% during the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after buying an additional 648,094 shares during the last quarter. Finally, Comerica Bank increased its position in shares of Eli Lilly and Company by 71.6% in the 2nd quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after acquiring an additional 631,312 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

About Eli Lilly and Company

(Get Free Report)

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.

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