Eli Lilly and Company (NYSE:LLY - Get Free Report) dropped 0.6% on Tuesday . The company traded as low as $767.25 and last traded at $768.83. Approximately 348,052 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 3,203,719 shares. The stock had previously closed at $773.84.
Wall Street Analyst Weigh In
LLY has been the topic of a number of recent analyst reports. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an "outperform" rating and a $1,100.00 target price on the stock. Evercore ISI upgraded shares of Eli Lilly and Company to a "hold" rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Finally, Bank of America reissued a "buy" rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,002.22.
Read Our Latest Stock Analysis on Eli Lilly and Company
Eli Lilly and Company Stock Down 0.2 %
The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a 50-day moving average of $800.92 and a two-hundred day moving average of $865.71. The company has a market cap of $732.87 billion, a P/E ratio of 83.46, a P/E/G ratio of 2.99 and a beta of 0.41.
Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results 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 return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The business's revenue for the quarter was up 20.4% on a year-over-year basis. On average, research analysts anticipate that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.
Eli Lilly and Company Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is a positive change from Eli Lilly and Company's previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company's dividend payout ratio is currently 64.86%.
Eli Lilly and Company announced that its Board of Directors has authorized a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.
Insider Activity
In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.13% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in Eli Lilly and Company by 0.5% in the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company's stock worth $15,089,563,000 after acquiring an additional 85,823 shares in the last quarter. International Assets Investment Management LLC grew its position in Eli Lilly and Company by 87,091.7% during the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company's stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Eli Lilly and Company by 2.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company's stock valued at $5,417,970,000 after purchasing an additional 157,741 shares during the last quarter. Fisher Asset Management LLC increased its stake in Eli Lilly and Company by 3.5% during the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company's stock valued at $4,481,175,000 after purchasing an additional 169,391 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Eli Lilly and Company by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company's stock worth $3,242,296,000 after buying an additional 171,595 shares during the last quarter. 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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